Launched in 2018, Nexo is considered the pioneer of the cryptocurrency credit business and one of the most established regulated platforms for digital assets globally. Nexo is a blockchain-based lending platform that offers users instant cryptocurrency-backed loans. Users deposit an accepted token — such as Bitcoin (BTC) — as collateral to receive a loan as a fiat currency or stablecoin. The project doesn't have deposit lockup periods, allowing users to add money anytime. It also compounds interests daily, meaning you can ask for interest payouts every day.