Figure Markets vs Nexo
Compare supported currencies, security, interest rates, fees, and customer service.
By Lantern Finance
In this article, we will explore the differences between Figure Markets and Nexo.
Currencies supported
Security
Interest Rates and Fees
Customer Service
Figure Markets | Nexo | |
CURRENCIES | ||
Bitcoin (BTC) | ✅ | ✅ |
Ethereum (ETH) | ✅ | ✅ |
Solana (SOL) | ❌ | ✅ |
Litecoin (LTC) | ❌ | ✅ |
Ripple (XRP) | ❌ | ✅ |
DOGE (DOGE) | ❌ | ✅ |
SECURITY | ||
Custody Partner | Self-custody through Multi-Party Computation (MPC) technology; private keys are distributed across a decentralized network | Ledger Vault + Firebloks |
Encryption for data | Not specified | ISO 27001: Information Security Management ISO 27017: Cloud Security ISO 27018: Cloud Privacy and Protection of Personally Identifiable Information |
2FA | Supported; clients are encouraged to enable two-factor authentication as a secure practice | SMS verifications, email verifications, authenticator app support |
Headquartered | 650 California Ste 2700, San Francisco, California, 94108, United States | Zug, Switzerland, at 15 Grafenaustrasse |
Collateral Management | No rehypothecation (they don't lend out borrower collateral); assets held in MPC wallets with distributed private key shards | Ledger Vault: Leverages hardware security modules (HSMs) and multi-signature protocols to safeguard private keys. Fireblocks: Utilizes MPC-CMP (Multi-Party Computation with Key Management) technology to eliminate single points of failure. Bakkt: Offers regulated custody through its Bakkt Warehouse, combining warm and cold storage tiers. |
INTEREST RATES AND FEES | ||
Annual Interest rates | 9.90% (11.00% APR) at 50% LTV OR 11.50% (12.62% APR) up to 75% | 18.9%, 30% LTV if you don't hold NEXO tokens 2.9%, 20% LTV, total portfolio must be at least $5,000, AND at least 10% of your total portfolio value must be held in NEXO tokens. If portfolio drops below $5000, you have 7 days to add more before interest rate jumps back up to 18.9% |
Loan-to-value ratio | BTC: 55% ETH: 55% | BTC: 50% ETH: 50% SOL: 30% XRP: 30% LTC: 30% DOGE: 30% |
Margin Calls | 70% | #1: 71.4% LTV #2: 74.1% LTV #3: 76.9% LTV |
Grace Period to add Collateral | 24 hours | Instant loan repayment to maintain a healthy LTV ratio |
Liquidation Fees | 1.50% | No liquidation fees, but a flat 0.26% fee applies to all crypto repayments (excluding fiat and stablecoins) |
Liquidation LTV | 85% | 83.33% |
Origination Fees | 1% | 0% |
Late Repayment Fees | 1.50% | No late repayment fees, but a flat 0.26% fee applies to all crypto repayments (excluding fiat and stablecoins) |
Loan Disbursement Duration | Same-day approval (terms and conditions may apply) | Within 24 hours of receiving collateral |
Repayment Options | USD or USDC | Repayments can be made in either fiat or USD and crypto |
Early Repayment Penalties | No prepayment fees | No fees or penalties |
Fixed Term | 3 months | 12-months |
Number of active loans | No limit | No limit |
Minimum loan amount | $5,000 for domestic borrowers; no minimum for international borrowers | $50 if in stablecoins $500 if fiat |
CUSTOMER SERVICE | ||
Call Hotline | ✅ | ✅ |
❌ | ✅ | |
SMS | ✅ | ✅ |
