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April 19, 2022

Nexo & MasterCard launch first crypto-backed payment card

Crypto lender, Nexo, has partnered with leading global payments company, Mastercard, to launch a crypto credit card that doesn’t require you to sell your crypto. The crypto balances can be used as collateral until you pay your outstanding balance.

The card doesn’t have monthly minimum payments or interest charges if LTV remains under 20%. We have seen debit cards issued by companies like Coinbase, but this is the first “credit card” that leverages crypto as collateral.

Harsharn Singh
Investment Associate | Ember Fund

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