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The Evolution of Crypto-Backed Loans w/ Antoni Trenchev from Nexo (Ep. 0064)
Publisher |
Clay Collins
Media Type |
audio
Categories Via RSS |
Business
Investing
Publication Date |
Dec 11, 2019
Episode Duration |
01:00:20

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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