Cryptocurrency News

Nexo Pays Token Holders Over $ 2.4 Million

Nexo reached an annualized dividend yield in revenue of 12.73 percent, higher than every other paying stock on the S&P 500 market index. Nexo in a press release announced the completion of its dividend payments to all of its holders on August 16.

According to the press release, Nexo has a user base of over 250,000 holders. Furthermore, it states that it has a dividend yield higher than every dividend-paying stock listed on the S&P 500 market index.

The crypto lending firm evidently pays out its total dividend in two parts. 50 percent comes from the Nexo Base Dividend and the other 50 percent from the Nexo Loyalty Dividend. The venture claims that its exchange is designed to reward long-term client’s confidence and decrease market volatility following dividend payouts.

Nexo firm MasterCard

The press release also states that Nexo will unveil a new MasterCard-branded credit card for crypto. Furthermore, Nexo also claims that its Nexo Card is the first in the world to let users pay in cryptocurrency without actually spending it.

“When using the Nexo Card to purchase goods and services, you actually pay using your Nexo flexible open-ended revolving credit line that is backed with your crypto holdings and thus not selling any of them, which is giving you the freedom to spend today and sell your holdings whenever you want in the future to pay back the loan,” Nexo explained.

tZERO dividend payments

tZERO, the blockchain subsidiary of Overstock, announced the opening of Nexo preferred equity security tokens to non-accredited clients. tZERO will allow non-accredited token holders or users to earn money through company dividends. After the announcement, tZERO said it might distribute a quarterly dividend of 10 percent of the company’s adjusted gross revenue.

The company said it will considering paying out dividends in more than just dollar; Bitcoin, Ether and other security tokens being possible modes of payment.

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