KAREN JOY BACUDO

Finance Editor

Nexo Australia has launched crypto-backed Credit Lines in Australia after being appointed a Credit Representative, bringing the product within the country’s consumer credit framework.

The move makes Nexo one of a small number of digital asset platforms in Australia offering regulated credit secured against cryptocurrency holdings. The lending product operates under the National Consumer Credit Protection Act and is aimed at eligible clients who want to borrow without selling their digital assets.

The launch expands the company’s local offering beyond trading and yield products. Credit…