The Nexo Card is a crypto-backed payment card issued with Mastercard, currently available to residents of the European Economic Area and the UK. It operates in two distinct modes: Credit Mode, which allows users to borrow fiat against their crypto holdings without selling them, and Debit Mode, which lets users spend directly from their crypto, stablecoin, or FIATx balances. This dual setup is designed to provide flexibility, as users can either preserve their assets while accessing liquidity or use their balances directly.
In Credit Mode, borrowed funds are backed by the user’s digital assets as collateral, with no fixed repayment schedule or credit checks required. Depending on loyalty tier and collateral levels, borrowing rates can start as low as ~2.9% APR, while cardholders also earn up to 2% cashback in either NEXO tokens or Bitcoin. In Debit Mode, balances continue to accrue interest (up to around 14% APR) until they are spent, and the app allows users to prioritize which assets are used first.
The card comes with benefits such as no annual or inactivity fees, global usability at millions of merchants, and robust security features like instant freezing and fraud monitoring.
Nexo Card is a key part of the Nexo ecosystem which also includes NEXO token and Nexo wallet.
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