Nexo said on Aug. 19 that it had secured a lending authorization in Australia and launched Credit Lines, a crypto-backed borrowing product that lets eligible clients draw Australian dollars or stablecoins against supported digital assets without selling them. Earlier launch materials said the service operates under Australia’s National Consumer Credit Protection Act after Nexo Australia’s appointment as a Credit Representative, with funds typically available within 24 hours, no fixed term or origination fee, and annual interest of 0.9% to 21.9% depending on the client’s loyalty tier and Credit Line version. The credit line also underpins the Nexo Card’s spend-against-collateral model in Australia, allowing cardholders to borrow against pledged crypto rather than liquidate it at the point of sale. Nexo did not identify the specific authorization or regulator in its Aug. 19 announcement, and it did not restate pricing, so the company’s claim that it is one of very few approved digital-asset platforms in Australia remains its own characterization while borrowers still need to review loan-to-value, interest and collateral terms in-app.