Definitely in same sphere as SALT
@Soprano16 and as such heres a short comparison
Product SALT vs NEXO: SALT is a p2p platform, which means that each loan is a custom transaction and it may take days/weeks for your loan to be matched for every borrower and lender. Getting funded happens manually on SALT’s end right now. On top of that comes the preparation of the loan documentation, which reduces efficiency further.
The NEXO crypto-backed loans are instant and automatic because we know that speed is essential when you need liquidity. And the loan terms at NEXO are standardised for everyone, so there are no back and forth negotiations between borrower and lender.
SALT offers installment loans with monthly repayment schedule and your crypto stays locked/blocked until you repay the last $1 of your loan even if your crypto’s value has increased 100x in the meantime. NEXO is very flexible with regards to the crypto that you keep in your Nexo Wallet.
At SALT you can only use fiat to repay your loans NEXO offers a variety of options: besides fiat, you can also use crypto at market prices (even the crypto kept in your Nexo Wallet) to make instant repayments.
SALT is available in the US, while NEXO is a Swiss-based company and offers its loans worldwide.
Token SALT vs. NEXO: SALT has a membership utility token that gives you access to their platform. This creates a conflict of interest between investors and members because members want the SALT membership token price to stay low, while investors want the token’s price to grow.
On the other hand, the NEXO token is the world’s first US SEC-compliant dividend-paying asset-backed security token with utility features. NEXO tokens are backed by the crypto-backed loans assets portfolio and you receive dividends from NEXO profits while you are hodl-ing NEXO tokens.
The NEXO token also has great utility features: you can use NEXO tokens to make loan repayments at discount on the interest; --- you can use NEXO tokens in your Nexo Wallet to increase your loan Limit, again at discount on the interest.