Nexo's US comeback: why crypto lending is booming again

Transcript

I think passing all this regulation, you know, will only unlock a more golden age of of crypto. >> Crypto lending platforms were booming back in 2021's bull market. A few of them are still around. How did Nexo survive? How are they making their big comeback? And what does this mean for the future of crypto lending? Hello and welcome to the Milkro Show, the podcast that knows that when meme coins are forcing market makers to tokenize more stons, it might be time to flip bullish. I'm your host, John Gill, and today is Thursday, September 3rd, and today we are joined by Neil Steinhardt. Neil is the chief operating officer of Nexo US, where he leads the company's re-entry into the US market with cryptoback lending, yield products, and digital asset wealth management solutions. What does all that mean? What do we need to know? Well, Neil is a very smart guy.

He's going to tell us a lot of really interesting things today about crypto and about a lot of other stuff. So, that sounds good to you, make sure you like and subscribe. Share this episode with somebody who's going to enjoy it. And as a reminder, our podcast today is free and that would not be possible without our wonderful partners at Saber.money, the stablecoin payments platform built for Asia. So keep an ear out for more information on them later in the episode. But for now, welcome to the Milk Road Show. Neil, how are you, sir? >> Hey, Sean. Great to be here. Thank you very much. >> I'm really excited to have you. I'm glad you decided to leave the art in the background as opposed to blurring your camera. I think this is going to be much better for the episode. Um Neil, I thought a great place to start would

just be with the Nexo platform. And some people might have heard of it from the last cycle, but things have changed and it's a lot different. How would you describe Nexo today to somebody who doesn't know what Nexo Nexo is? >> Sure. Well, Nexo is the premier digital asset wealth platform and we're designed to help clients grow, manage, and preserve their crypto holdings. So, you know, we've been in business since 2018. We operate in more than 200 jurisdictions. Uh we've got 10 million clients globally and uh we've processed over $465 billion worth of uh volume and collateralized credit. So uh we've been around for a while and and we're going to be here for a long time.

>> You did a great job memorizing those numbers. Those are really impressive figures. Um but I so I want to talk about this though. What we've seen happen as far as crypto lending. The last bull market was a huge amount of demand for this. It was a huge industry. uh many many billions of dollars were in this and once you know 2022 happened a lot of that kind of dried up but it seems to be really coming back in a strong way and I'm curious your thoughts on why we're seeing this resurgence. Why are so many people now choosing to borrow against their crypto as opposed to selling it and why do you think this is finally coming back in a big way here?

>> Well, I think there's three main reasons. One, folks who believe in digital assets, you know, we're still early, right? And and they're bullish on the future. So, um you know, they don't want to sell. Two, there's tax implications for selling. So if if you're substituting, right, I want to buy a house, so therefore I want to sell these assets. There there's a cost to doing that and there's there's some significant tax implications there. And the fact that platforms like Nexo make it really easy to access liquidity, right? We we offer a perfect solution, right? You can hold your assets, you can, you know, hold them for the future and the growth and you can access the liquidity you need today without any, you know, significant consequences. And it's it's you know click click click you you can access against your crypto. So

um I think that's the probably the biggest reason why there's a resurgence and you know there's analoges in the you know non-digital world right because you can get home equity lines of credit and security back lines of credit and you know people borrow against their assets all the time and it's it's a great way to source liquidity. >> Okay so tell me about this. You guys are known for the crypto lending business but you said Nexo is a digital asset wealth management platform. There's more to it than just uh crypto lending. What are some of the other things you guys have at Nexo that that people should know about? >> Sure. So, you know, we've got a pretty interesting product suite. So, obviously we we can focus on yield, right? So, your your assets can grow. We have lending. We've got a credit card based

product, you know, which is like the simplest way to access liquidity against your assets. You know, we have a really interesting, you know, exchange, right? So, you can convert your fiat and stable and get the assets that you want. And you also have a wealth club, right? Because we're a very hightouch platform that kind of caters to high net worth individuals. So people that, you know, need some handhelding, want some experience, you know, we offer 247 support uh to help the members of our wealth club, you know, accomplish what they want to accomplish. >> Yeah. And I think that hight touch support is appreciated by a lot of people who uh are maybe used to less hight touch service from other crypto platforms. Um, I I'm curious your thoughts on, you know, you're chief operating officer for Nexo US and the the re-entry into the United States. I

think you guys began this process in in February. Um, how has that been going so far this year? What's that been like? Give me sort of like a progress update on that. >> Sure. You know, it's been going great. Uh, you know, we're really happy to be back and the US is a huge market. So, uh, it it's important to be here and, you know, we're doing it through a partnership with Backed, right? So backed is a publicly traded company that provides institutional support for risk management and compliance for digital assets. Uh so it's the right way to go about coming back into the market and to do it in a compliant manner. We started an RAIA. We're putting all the pieces together. So you know as our product suite expands you know some of it we'll do in-house some of it we can do through

strategic partnerships. Um but all in all I think the the environment in the US it's makes it the perfect time to be back. >> Hi everyone this is John. Listen, our Milk Road Pro analysts nailed this AI bull market. They had dozens of calls pay off in a big way for our community. If you want to see how our entire team of analysts are positioning for the crypto bull market that's going to come after this bare market finally ends, you can join us now at Milkroad Pro. It's just a dollar. Link is in the description. You'll get access to all of our analyst trades, their watch list, and see how they're navigating this in their portfolios and get access to ask us questions in Discord anytime, day or night. It's just a dollar. Links in the description. Milk Road Pro. Join now.

I'll see you there. What has changed in your view? I mean, just how would you describe this from from Nexo 2020 like pre2022 to Nexo today? If somebody is familiar from Nexo from the last bull market um and is getting refamiliarized today, what's changed about how you operate and just like what should people know about that? >> Well, I think it's really the regulatory environment. you know, when we took a chance to to come back, it it was really, you know, I think the Genius Act was was the the the final straw where we said, hey, you know, there's some regulatory clarity here and and now I think we can come back and operate and and what's different is that we're operating in that compliant fashion because now now the rules are being established and uh it's interesting for markets, right? when there isn't a

regulatory clarity you then capital sits on the sidelines and when you get that clarity then then it's allowed to rush in and you can see more innovation and you see see more you know legitimate players coming in and saying hey this is how we're going to have to operate so I think that was a start where we said hey you know I think it's time to come back and now we've been putting all the pieces together and you know like I said we're super excited and and bullish about the future of our operations in the US >> are there particular products that you're seeing like more being more popular with US customers? Like are people using their crypto for for mortgages or for just getting getting yield? What are you seeing the most adoption uh from Nexo's product suite in the US so far?

>> Yeah. So I mean obviously you know you're using the exchange right so it's it's going to have to come in but once it's in you know yield and line of credit are the two biggest products and uh you know we do have some studies that we publish that are interesting in Europe uh about like you know crypto card usage and you know what's interesting is the the significant percentage of usage around uh experiences right so you can book travel you can book trips u of course people can buy coffee and you know groceries and things like that and we see that activity as well. Um, but I think if you're kind of building wealth for the long term, right, which is really our value proposition, it's, you know, you can't just sit there and wait for it to mature, right? You need to access it

and, you know, things come up in your life, right? So, yes, you do. Um, you know, we did start the uh the first crypto mortgage uh I think back in 2019, right? Where where uh people were using funds, but people use funds to make significant purchases or they buy houses, they can pay for education, they can buy uh an automobile, right? There's there's lots of things that you can do uh you know and especially you know as the market goes up obviously there's volatility but you know the general trend is is up over time and so you're you're accumulating more and more wealth and you know we make it really easy for you to access it. Say hypothetically I had some crypto and I was curious about getting some yield on it, right? How would you pitch Nexo to me as opposed to other options on the market? Because

there's so many different alternative ways to get yield now in DeFi and other places. Why Nexo? And um you know like I think another thing I'll I'll tack on to the same question is like the risk management aspect of it because there's so many people I think have been burned from prior bull markets on on crypto yield products. How do you go about like, you know, assuring people that the the lessons from the past have been learned and that those same risks don't exist if they do decide they want to get some yield on their crypto? >> All right. So, hypothetically for for your crypto, um, I mean, yield is one of our our, you know, flagship products.

So, it it's it's really quite easy, right? So, we we've got two products. We have u, you know, flexible yield and fixed term. And on the flexible yield uh you can keep obviously plat the assets on the platform you can generate up to 14% peranom what's interesting about Nexo we generate daily interest right so there's a compounding effect right we pay out our interest daily the yields available for 20 different assets those assets are available to you at all times right if you want to use them for collateral for a line of credit or something else so almost a no-brainer to to actually generate some yield off your assets uh if you want generate a little bit more. You know, you can lock it up for fixed term. Uh you can take out, you

know, 30 days, 60 days, 90 days, you know, 12 months. Um and that will generate a higher yield. Uh but those assets will get locked up and they won't be able to be used for for collateral or used for a loan. Uh so, uh so we have a lot of flexibility. Again, super simple platform, really intuitive, right? Click click get to work, right? Start putting your assets to work. um you know for people that want to hold great but why not use them to generate some yield while you're while you're waiting. >> Okay. And then that that's helpful. It's good you guys have a lot of optionality for for people to decide how they want to do that. But you know how do you go about like talking to people about some of these like risk management practices and making sure that they feel like you

know the yield is coming from a secure place and they're not just gonna get rug pulled on their crypto. Sorry I know this is a sensitive topic but I think a lot of people are still scared about this >> and rightfully so. So, uh, obviously we've been around since 2018 and, uh, we've been refining this model for quite some time and, you know, still still going strong. So, you know, one thing is we we keep the loan to value ratios conservative. So, uh, so we're not letting people get terribly leveraged on this. Um, secondly, we have a proprietary automated liquidation engine. So, you know, as you're getting closer and closer to your loan to value ratio, you're going to, you know, get some calls, hey, we want to keep your loan current. You know, if you don't, we can we can do a partial liquidation,

right? So, we're not going to wipe you out, but we know we just want to make sure that you keep your loans current. And if the collateral LTV falls below a certain value, you know, we can do that. Um, and it's a rather sophisticated and automated process. So, you know, the engine itself is going to look at at, you know, being able to liquidate in various markets. So, you know, we can affect it, you know, very effectively and execute those trades and and get your loan current again. Uh, and you know, we've been through every major downturn, right? Still going strong. You know, that includes 2022. You know, it it it it's a battle tested platform.

>> Gotcha. Well, partially liquidated is my favorite kind of liquidated. That sounds very sophisticated and dignified. So, >> and and and you hope it doesn't get to that, right? So, >> yes, we always hope for the best. Uh Neil, I'm curious to get your thoughts on this. Something that is, you know, sort of like known as a a common thing in crypto markets is these these large price swings and volatile events like October 10th of 2025 or the short squeeze we saw just two weeks ago. And I'm curious how that impacts your platform or your users um people who are are doing lending on Nexo. Do those events like move the needle or is it something that like you're aware that these things happen but it sort of you shrug off and doesn't really impact your business much?

>> It doesn't have a tremendous impact, right? So like I said, you know, like there there's a ton of automation baked into the platform. So, you know, by by keeping the loan to value ratios conservative, right? Um you know, we're able to, you know, kind of withstand some of those larger market swings and it's it's been proven, right? So you know we we we get through those market swings and uh the system becomes a little more robust and resilient. You know it's almost like uh what is it the uh anti-fragility right? You know you want to design systems right that you know they're not reacting and they actually get stronger in more turbulent times. And I think you know you can kind of look back at the Nexo platform and say you know we we've built this anti-fragile system that is uh you know built to withstand you know major market

swings. I think, you know, if you look at the the maturation of the market, um, you know, you could argue maybe there's a little less volatility, right, as like more institutional investors are coming in and stuff. I'm not saying there aren't swings because of course there's swings. Um, but, you know, maybe, you know, it it's it's not quite as volatile as it has been historically. And I guess time will tell, you know, what what this cycle plays out to be in the next one as well. >> Absolutely. Yeah. Well, if you guys have made it since 2018, you've we definitely learned a lot to to about how to survive these things. Um, so I appreciate the confidence on that. Uh, I I am curious about the institutional versus retail aspect of this though. I are you seeing more demand and adoption from institutional investors for for Nexus

platform or do you see this as more of a retail focused thing somewhere in the middle? What's what's that been like? >> So, we focus on, you know, large retail and corporate more than institutional. So uh our our target demo is high net worth individuals and uh obviously we deal with you know commercial companies, family offices uh you know corporate entities as well. So that's been the main focus about where we're we're kind of driving our customer acquisition strategies and uh but I do think it's interesting to see the institutional inflows. I mean, think we touched on it a moment ago, right? Where it it kind of flattens the market a little bit, right?

When there's there's bigger swings and bigger reserves and, you know, maybe having a less retail driven market, you know, kind of kind of makes things a little more appealing for for a broader audience of of potential investors. >> Okay. So, not institutions, but sort of larger retail clients. That's kind of the the place where Nexo lives uh mostly right? >> Absolutely. And corporate, right? So uh you know like you know family offices and businesses but that that is the main focus. >> Okay cool. Gotcha. Talk to me about how you see Nexo as unique or differentiated from other players on the market because there are so many um incumbents from from Wall Street from from crypto startups uh that that offer sort of like maybe similar analogous but somewhat

different things. How do you see Nexo as standing out from the crowd and what makes it like unique from some of these other platforms? don't like to generally talk about competition uh you know certainly by name but I I I think what what's interesting especially in a relatively sophisticated market like the United States is that there's competition within the digital asset space but there's also competition in tradi right so there there the majority of the investment happens outside of digital asset space so you know there there's major wealth management platforms out there um where you know we can have customers who are where we have a very highly differentiated product, right? We're we're geared towards the digital asset space, right? We're geared towards um getting liquidity. You know, I can tell you as a as a an individual,

right? If I want to borrow against my non-digital assets, it it's it's a cumbersome process. It's doable. Um right, and you can you can do it, but um it's not easy because your RAAS's got to recommend you to the bank and then you got to take out a loan and then you got to go through all this, you know, documentation and you know, it it's not quick. you know on Nexo because we offer these collateralized loans you know click click you can get your liquidity right uh right if you satisfy all the requirements so it's it's it's interesting I think there's a a lot to compete on and a lot of opportunity uh you know the US is a is a fairly sophisticated market u so many people are actually you know in the stock markets own equities own own funds and

uh you know I think digital assets are growing you know I can tease we a new wealth report coming out uh in another couple weeks um that really kind of takes a look at how are these portfolios behaving, right? So, you know, rather than gauge sentiment about crypto, it's actually saying what is the behavior of crypto and and how how integrated is it to your future wealth strategy? You know, one thing we've talked about a lot on this show is that crypto is quickly becoming a huge part of the global payments infrastructure. And nowhere is that more obvious than in Asia. But if you're actually running a remittance company or a payment business, you know that the hard part isn't moving the stable coins.

It's dealing with local banking partners, compliance, liquidity, and all of the operational headaches that come with sending money into places like India and Southeast Asia. That's why today's partner is Saber. They give payment companies stable coinpowered infrastructure to collect and make payouts across Asia without having to build all of that complexity themselves. They've already processed more than $3 billion in transactions across 40 different countries. So, this isn't just a concept. These guys are actually doing this for real. If you're building payment infrastructure or expanding into Asia, make sure you check out Saber.Money. Um, I can't remember if you said this, but in my research, I I saw that you guys are in over 200 different jurisdictions globally, and I think that's a really impressive reach for a crypto platform. Could you talk to me about that growth strategy? Like, I think you you recently entered

Argentina, you're back in the United States, you guys are just spreading everywhere. What's the the strategy with with this for Nexo? How how are you thinking about that growth in in the Americas? >> Well, you know, there's different drivers in different markets, right? So, you know, I think if if you look in some of the Latin markets in Argentina, you know, Nexo Argentina, we we achieve through a a significant acquisition and it's interesting because, you know, in that market, you know, maybe there's a little more volatile volatility in the currency and so there's a little more adoption, right, for for some wealth preservation. you know, we just launched in Australia um which is is really uh interesting and significant as well because there there's a lot of regulation in that market and so we had

to court a really uh interesting strategy uh and and you know it looks a little different than than the other markets right so you know obviously the same product set but the way that the the Australian market behaves is is a little bit different the way they treat their their capital gains taxes uh you know is is very different as well so uh I think, you know, Nexo is a global power. We're the we're the third largest uh crypto lender in the world. Um, you know, we've grown, I think, over the last three quarters, uh, you know, in a slightly contracting market, which is, I think, is pretty impressive. And so, I think, you know, having that global reach is is just, you know, it's been a part of our DNA, you know, since the beginning. And, uh, you know, but my

focus clearly is is on growing the US business. Uh but but you know it's it's great to see uh the the adoption and the uptick globally. >> Yeah. Well, that that's what impressed me so much about this is that just being able to operate in that many jurisdictions means that Nexo is inherently extremely regulatory compliant because there's so many different things that go into just being able to operate in all these different places. And I thought that was interesting to to point out. Um, one thing I wanted to ask you about was about the Micah regulations in Europe because a lot of major crypto platforms and businesses uh were not able to come into compliance with this quickly enough like Tether and Binance um very, you know, famously and dramatically uh left the European Union. Nexo is still, I believe, operating in the European

Union. Can you talk to me a little bit about how you all were able to like navigate this and or maybe just you know I know you're head of the US so I don't want to ask you too many Europe questions but like what are some lessons learned from from all of these different things you've applied to trying to become compliant in the US right because there there's there's a lot that goes into even state by state in the US being regulatory compliant. How have you guys navigated this? >> Uh that was a great question. So so obviously you know we're Mika compliant in Europe and and we did it through partnerships. So we we have a couple different uh partners uh to focus on on different products that we offer uh you know in the EA and you know through those partnerships we were able to offer

uninterrupted service for for our Nexo client base. You know Europe is our biggest market um and so obviously it was a main priority for the company to make sure that we would remain compliant uh and and stay in business. So I think that was a great uh great accomplishment, a big milestone for Nexo. uh it's similar to the way we're operating in the US right so you know we we picked up a partnership with backed right to to run our our trade and custody and uh that was you know the the best way to come to market and to do it in a compliant fashion and so sometimes you need to uh outsource some core functionality uh in order to to to move forward and you know we can we can grow

from there right and grow those relationships and uh you know so I think it's good to lean on some partners uh you know especially if it gets us to market a little quicker you know there is a fairly high regulatory burden in Europe and and the US and uh you know it's great to to work with reliant partners that can you know help shoulder the load. >> Yeah. Well I live in the People's Republic of New York City so I'm familiar with a regulatory burden. Um uh Neil I I want to get your thoughts on this. You talked about how the Genius Act and just like the generally positive or more positive um regulatory environment in the United States was a big thing that was attractive to bring Nexo back to the United States. The Clarity Act is set to go to another vote in the Senate in just a couple of weeks

here. Um can you talk to me about your outlook on this? Not just whether or not it'll pass, but do you think that this will be a significant unlock for Nexo's business and just like what are you expecting to happen if the Clarity Act passes? >> So I I think if it passes that'll be great. um you know obviously you know want some regulatory clarity. I don't think we want overregulation. Uh I've been in in regulated industries for 25 years and uh it creates its own little ecosystems of of of compliance. But at the same time, you know, whether it passes or not, I think, you know, the the horse left the barn, right? And digital assets are are established in the US and uh you know, stable coin, you know, is is clear, right, through through the Genius Act and you know, the

agencies that are going to regulate digital assets are are clear and they're making rules and they're um trying to be pro business as well, right? So, you know, that's a that's a fine balance to try to figure out, you know, how do we protect consumers and how do we allow businesses to grow. So, you know, like I said, I don't have a crystal ball. You know, whether it passes, whether or not, there's there's a lot that goes on behind the scenes to pass major legislation. But the fact that we talk about it, the fact that the rulem is happening, uh, you know, I think is is less important, you know, whether it passes or not, and I guess we'd like it to pass, but the fact that we have the regulatory clarity, you know, allows us to operate, to make certain decisions,

to make certain investments. Uh, and that's that's probably the most important thing that's come out of the past couple years. and and also you know trying to codify things in a way that it's it's less discretionary by agencies to to do their rulem um you know like we said made it easy for us to make a decision to come back into the US and I think you know gives us a lot of clarity about you know how we want to operate in the US as well >> clarity is a good thing I I think that a lot of people are wondering you know is this going to unlock another wave of institutional capital coming into crypto or is it just going to unlock another wave of uh you know competition new products and like new players entering the market. Do you have any like thoughts on that one way or the other?

Like what what do you think the response is going to be and like you know what what happens like in that in that world? >> Sure. Uh I mean if if you look historically right when when there is regulatory uncertainty like I said capital sits on the sideline and so you know you allow some smaller players that are you know maybe less riskaverse to come in and play. um you know when you get the regulatory clarity then then you get the more institutional players that want to come in and um and so and then you get the capital to deploy it right and you see this wild growth and then you see consolidation right and and M&A activity right so some of the guys that were growing up you know time to get acquired people get a little FOMO you know large corporations feel like they

need to put a a a foot in the game right and they can do it through acquisition as opposed to growing it organically so I think it's going to unleash uh just an amazing time right where you know major financial players are going to you know take this segment seriously they do already if you look at like you know all the stable coin innovations it's just been you know mind-blowing I think like yesterday right was the announcement right 21 major banks are going to you know get onchain and and use an existing chain which I think is phenomenal right and it's happening today I think uh Visa I think they just posted right their annual run rate of $7 billion on chain um right Western Union like it's happening right it's

infrastructure and and that is you know amazing so I think you know passing all this regulation you know will only unlock a more golden age of of crypto and uh and you know there's a lot of capital on the sidelines there is just waiting to come in and you see it maybe in some of the growth of some of the uh exchange traded funds and ETFs right where you know people want exposure to it um you know and and then they can get you know even deeper exposure say hey maybe I want to actually hold these assets directly you know as opposed to being in these funds so uh you know like I said we're super bullish about the future and I think it's it's only going to get brighter >> and more golden age is a great phrase I like that a lot um thank you for that

Neil um I want to talk about the road map for what's ahead for Nexo because you know like I said you you've been expanding into new jurisdictions are there new products new services you guys have on the road map that you're still trying to bring to market or do you think you've kind of gotten to like a steady state as far as the product suite goes. >> So, we're definitely not there. I think, uh, you know, interesting for the US, we want to, you know, launch the card product. We have an award-winning Mastercard product in Europe, and I think it's, uh, you know, very key to to what we're trying to accomplish, and we're working on that. Um, you know, I think what what's really interesting is is the Nexo Wealth Club, right, where you get lower rates on your credit card, you can generate higher yield. Um we're

we're getting ready to launch a thing called milestones, right, which is a special subset of the wealth club and uh you know the idea would be that you can get more experiences and assets, right? We sponsor Formula 1, we sponsor the Dallas Open tennis tournament, we sponsor the Australian Open, right? We sponsor major golf tournaments in Europe. So the idea of leveraging your wealth and kind of marrying it to your lifestyle, right? And and getting either, you know, tickets or passes or, you know, experiences, uh, I think is is really a differentiator for us. You know, we talked about the 24/7 support and the white gulf care and having dedicated account managers, but getting involved with the experiences, you know, really takes it kind of to the next level. Um, so, you know, that's that's

something that we're really super excited about and and is going to be a big differentiator for Nexo. That sounds really fancy. I think I'm going to look into this when I get to be a big whale. Um, all right. Uh, I think that that's really interesting as a as a differentiator, too. And I think, um, tell me about the card product because I think that there are a lot of there's neo banks now in crypto like Ether launching a card. There's all these incumbents obviously that have these programs and your your card product has been really successful in Europe. Talk to me a little bit about that and what you're hoping to accomplish bringing that to the US markets. Well, you know, I think when we talk about, you know, using your wealth to access liquidity, like the card swipe is the simplest way to do it, right? Hey, sign up for a

card, get a high credit limit, and um, you know, swipe away, right? So, like I said, we we've got our card report. Um it's you know interesting how to see how people in Europe have been spending their money and seeing how much of it goes to travel and luxury goods you know and coffee and groceries and and basic necessities but um both of them tell an interesting story right so one is hey I have this wealth that we're bullish on crypto we're holding these assets for the long term right because we we believe but I need to buy some groceries today and you know you know having my money tied up is is is not going to do it for me, right? So, so the ability to have that instant access to liquidity,

uh we have a a dual card, right? Credit or debit mode, uh you know, super high credit limits, you know, based on your your assets is is compelling. And so, like I said, I think, you know, our our credit line is amazing product, our yield is an amazing product, but but the card is a phenomenal product and and actually, you know, get gets you where you need to go. Talk to me about the niche that you see in the market for Nexo to carve out here that's that's not already being served, right? Because I think that there are like a lot of people who have been looking at the US markets and waiting for clarity to come in uh and and you know engage with this market share here. Where do you see carving out that that market for Nexo and and just talk to me about where you

see this fitting into a person's um crypto crypto portfolio or the the platforms that they use to engage with crypto? >> Yeah, I I think it's interesting. So about 60% of the market has some exposure to crypto right now. So it's it's it's not niche in that regard, but you know it's a significantly small portion of majority of people's holdings. And I think you know people can get turned off by the volatility. You know I don't want to get into people's heads and try to guess about why they make investment decisions or not. But you know as you see growth right and and you know over most any time frame you know there there's been exceptional growth in digital assets. Um as you see the blockchain adoption, as you see, you know, yield products that

come to market, right? And people start institutionalizing, get more comfortable with it, um you know, you see a lot more favorability in younger people, but they have less disposable income and you know, less conviction in older people have more disposable income. But guess what? That's changing. There's like a 7580 trillion wealth transfer coming, you know, between generations. um you know you know as younger folks are you know Gen Z and millennials are growing up and you know you know getting established in their life you know they're more comfortable so it's interesting I think there's a lot of people who want to structurally put crypto into their retirement

planning and into their wealth building and you know the US is an interesting market compared to Europe where you know so many people's retirement is tied up in the market right so you know in some regard we have a very sophisticated ated market, right? Because so many people have 401ks and Roths and you know, you go on the 6:00 news and people talk about the stock market and what was the Dow and where was the NASDAQ and how are the fang stocks performing, right? So, you know, what what's crude oil trading at? You know, this is like part of your everyday life, right? You don't have to be in the industry to be exposed to this because they talk about it every night on the news because everybody's retirement is tied up in it. And so I think, you know, when we start getting people more comfortable, they start

switching and substituting, hey, I'm not going to be investing in this ETF or or whatever. I'm going to start investing in digital assets. And and I think that's going to be the transition. So um you know, so we have our our high net worth clients who, you know, have the disposable income and and and you know, believe and then we have, you know, the the newer people that are coming into the market, you know, and and aging into it who, you know, are are getting more and more disposable income, right? and you know want to make good smart decisions about their future and and that's really the Nexo value proposition right I think the tagline last year was the future of wealth right you know we're you know we're a digital wealth platform right how can you grow and how can you access liquidity along the way

all right I have a very specific ask for you guys listening to this knows the person running marketing at a crypto or AI company that should be advertising with Milk Road we reach more than half a million investors across everything we and Q4 is filling up. So, don't be the brand that waited too long. And the cool part about sponsoring the show is this episode is still going to be getting plays months from now. So, send this to them. Look like a genius and tell them to go to milkroad.com/sponsor. Neil Steinhart, chief operating officer, Nexus. Thank you so much for being on the Milkro show. I was really excited to talk to you because I'd heard of Nexo for, you know, many years ago, but I was like, "Oh my gosh, they're finally back.

I wanted to hear more about what the company's doing, what brought you back, and I feel like I learned a lot from this episode." So, thank you so much for being on the Milk Road Show. Where can we send people to find more of you and your work online? >> All right. Well, first of all, thank you very much for having me. This was super enjoyable. And you can go to nexo.com and find out a lot more information. You can find us on X at Nexo. Uh we're we're happy to entertain you and uh looking forward to, you know, helping more more people grow their digital wealth. >> Well, I would love to do that as well. That's why we're here. Neil Steinhard, thank you so much for being on the show.

I really appreciate it. >> All right. My pleasure. Take care. >> Thank you all for joining us. I hope you all learned something today. So until next time, stay safe, stay educated, stay bullish, grow your crypto wealth and we will see you all on the next episode of the Milk Road Show. Thanks for being here everyone. Bye. >> Thanks for listening to Milk Road. If you enjoyed the show, make sure you like and subscribe. And if you're struggling to find winners in the market, that's exactly what Milkro Pro is built for. Our analysts have called some of the biggest winners early and Pro lets you see what they're buying next, every trade they make, and the research behind every position. Check out Milkroad Pro at the link below. Everything you hear on Milkroad is forformational purposes only. These are our personal opinions, not financial advice, and we may own

some of the investments we talk about. Always do your own research and make the decisions that are right for you. See you next time.