The Evolution of Crypto-Backed Loans w/ Antoni Trenchev from Nexo (Ep. 0064)

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By Clay Collins. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

Welcome to this conversation with Antoni Trenchev, co-founder and Managing Partner at Nexo, a provider of instant cryptoasset-backed loans and high-yield savings products. Since the April 2018 ICO of their NEXO token, the company has processed over $1 billion dollars in transactions.

My conversation with Antoni is split into 5 chapters:

  • Chapter 1: Nexo’s business model and some of its products
  • Chapter 2: The lifecycle of a Nexo loan
  • Chapter 3: A history and evolution of cryptoasset-backed lending
  • Chapter 4: The present state of crypto-backed lending
  • Chapter 5: The future of the space
In this episode, we discuss:

  • Antoni’s background prior to Nexo
  • Nexo's origin as a hand-drawn graphic on a piece of paper
  • Bitcoin (BTC) forums & the early days of crypto-backed lending
  • The mechanics of serving customers in 200+ jurisdictions
  • The challenge of complying with diverse US state laws
  • Nexo's zero-fee model – they only make money from loan interest
  • Why Nexo doesn't pay interest on crypto – yet
  • The fortuitous timing of the NEXO token sale
  • Common uses cases for cryptoasset-backed loans
  • Pledging crypto as collateral to minimize taxes
  • How to apply for a Nexo loan
  • Consumer benefits of dynamic credit lines
  • The Nexo credit card
  • The size of the cryptoasset-backed lending space
  • Extending loans against tokenized physical gold
  • KYC and AML for crypto-backed lending
  • Why Antoni sees Nexo as a financial institution and a software company
  • The importance of simple, transparent regulation
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