Nexo Review: 2026 Bitcoin Loan Comparison

Nexo offers instant crypto-backed credit lines, letting you borrow against Bitcoin without selling. After a 2022 US exit and a 2023 SEC settlement over its Earn product, Nexo relaunched in the US in February 2026 through regulated partner Bakkt. US-specific credit-line terms had not been separately published as of mid-2026.

Your Bitcoin collateral is held via lender-held pool. Nexo discloses that it rehypothecates collateral (re-lends your Bitcoin to other counterparties). This funds a lower rate but introduces counterparty exposure if those parties default.

Rates range from 17.9%–18.9%. The product is available in not publicly posted. The company has been operating since 2018.

• Relaunched in the US in February 2026 via Bakkt after a 2022 exit
• Global credit line: 1.9% to 18.9% APR, 50% LTV on BTC, $50 to $2M, no origination or monthly fees
• Liquidation is partial: Nexo repays part of the credit line from a portion of collateral
• Instant funding once approved

• US-specific terms pending confirmation from Nexo or Bakkt

• ⚠ Standard Nexo terms permit rehypothecation (re-lending of pledged collateral); whether the US Bakkt structure segregates collateral is unconfirmed
• ⚠ The lowest advertised APR generally requires holding NEXO tokens at a low LTV; most users pay materially more
• ⚠ US-specific rates, LTV, eligible states, and liquidation thresholds are not published, so global figures may not apply
• ⚠ 2023 SEC and multistate settlements over the Earn Interest Product are material history

Nexo is one of several options in the Bitcoin loan market. Borrowers often compare it alongside Arch (Deferred), Figure, and SALT. Each lender differs on APR range, custody model, rehypothecation posture, max LTV, and state coverage, factors that matter differently depending on your loan size and how much you care about custody transparency. The side-by-side comparison lets you sort and filter all Bitcoin loan lenders at once.