Digital asset management platform Nexo has announced that it’s upping the ante and the stakes required to qualify as a client moving forwards. The introduction of a $5,000 minimum balance requirement will enable Nexo to continue serving retail and private individuals while raising the standard of care through its white glove service.
Kicking in from February 22 for existing clients, the change will enable Nexo to focus on providing seamless wealth management for those intent on preserving and growing their digital assets. Part of a major rebrand to reflect its revised clientele, Nexo is confident it can attract investors who want the upside to holding digital assets without getting their hands dirty.
Nexo Ups the Stakes
With over $11 billion in assets under management and a global presence spanning 150 jurisdictions, Nexo’s reorientation has been inspired by traditional private banking principles. The $5,000 minimum balance reflects a shift toward serving affluent investors with enhanced services and bespoke solutions, an area that is currently underserved by extant solutions.
While retail has an array of apps letting them invest as little as a few dollars, and HNW individuals have bespoke services that cater to their needs, there’s a gap in the middle of the market and it’s one Nexo thinks it can fill. Clients maintaining the minimum balance gain full access to Nexo’s suite of premium features including priority client care, tailored account management, favorable loyalty terms, and personalized USD, EUR, and GBP accounts.
Other benefits such as the Dual Mode Nexo Mastercard and tax-efficient crypto credit lines will further gild this premium experience. As part of the shift, Nexo plans to introduce a new Savings Hub flow, giving those with balances above $5,000 continued opportunities to earn passive income through both Flexible and Fixed-term savings.
Doing More With Your Money
Explaining the rationale behind the rebrand and adjustment in its client base, Nexo Co-Founder Kosta Kantchev said: “Guided by principles rooted in traditional finance and the personalized excellence of private white-glove services, we are committed to delivering sustainable wealth solutions for generations to come.”
Its service is likely to attract passive crypto investors, including old money and investors from traditional finance. It’ll also appeal to private individuals who have significant sums to invest, but don’t feel comfortable entrusting their assets to exchanges with dubious customer service and suboptimal UX. Nexo promises to treat such clients with the sort of care they’ve been accustomed to receiving in other spheres of life.
Nexo’s decision to implement a $5,000 minimum balance is grounded in its long-standing emphasis on sustainability and responsible growth. Through its NEXO Loyalty Program, the platform has created an ecosystem that rewards users while adhering to robust risk management practices. Since its inception in 2018, Nexo has built a reputation for delivering secure financial products that build user trust. Having gained that trust, it’s now confident that clients will support it on the next leg of its journey while taking advantage of their newly gained VIP status.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
