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Nexo has launched crypto-backed Credit Lines in Australia after its local entity became an authorized credit representative under the country’s consumer credit framework.
Eligible customers can borrow up to US$2 million against digital assets without selling them, with payouts available in Australian dollars, USDC or USDT. Rates range from 0.9% under qualifying low-LTV and loyalty-tier conditions to 21.9%, depending on the Credit Line type, LTV, and customer tier.
Smart Credit Line Offers Up to 50% LTV on Bitcoin and Ether
Nexo’s Smart Credit Line accepts 12 digital assets as collateral. Bitcoin and Ether support loan-to-value ratios of up to 50%, while the other listed assets are capped at 30%.
The Standard Credit Line has lower limits, with maximum LTVs of 40% for Bitcoin and Ether and 20% for other eligible collateral. Customers can make partial or full repayments without fixed installment dates or an origination fee.
Liquidation rules also differ. Smart Credit Lines use automatic liquidation when LTV reaches the 90% threshold, while Standard Credit Lines provide a 30-day notice period before liquidation.
Avgi Services Regulated Loans Under Australian Credit License 567308
Nexo Australia operates as Credit Representative 580430 of Avgi Pty Ltd, which holds Australian Credit License 567308. Credit products regulated by the National Credit Code are provided by Nexo Individual Loans, serviced by Avgi and managed by Nexo Australia.
Nexo Australia is also registered with AUSTRAC as a Virtual Asset Service Provider and is a member of the Australian Financial Complaints Authority. Nexo states that its AUSTRAC registration relates to anti-money laundering and counter-terrorism financing obligations and does not constitute government endorsement.
ASIC Continues Reviewing Nexo Australia’s AFSL Application
The Credit Line joins Nexo’s existing Australian offering, which includes crypto trading, Growth and other portfolio-management products.
Nexo Australia has separately applied to the Australian Securities and Investments Commission for an Australian Financial Services License. The company says that application remains pending.
The credit authorization allows Nexo to offer National Credit Code-covered crypto-backed lending through its Australian credit structure. The next regulatory step is ASIC’s decision on the separate AFSL application.
