Crypto Lender Nexo Adds Support for Base Network

Crypto lending platform Nexo has added support for the Ethereum layer-2 Base network. This latest addition means users can now deposit and withdraw Ethereum’s ETH and Circle’s USDC across the L2 blockchain.

Nexo x Base is live.

You can now transfer $ETH or $USDC to your Nexo account using @base – the fast, low-cost network designed to bring the world onchain.

Nexo gives your assets a home that’s built for long-term utility – not just storage.

Start simple. Stay smart. pic.twitter.com/pc9NeVPaOO

— Nexo (@Nexo) May 16, 2025

Base Network Joins the Bandwagon

Since its launch by a development team at the American crypto exchange Coinbase in 2023, Base has become one of the go-to Ethereum scaling solutions. The network has become home to numerous memecoins, games, decentralized applications (dApps), and even those themed around artificial intelligence (AI). The Base network currently has no native token. Still, many in the crypto community expect that the Base development team will deploy a native token in the future.

Nexo’s decision to onboard the blockchain is likely attributed to its continuous on-chain success. The crypto lender added in its announcement that it selected Base because of its network speed and cost efficiency. These features help users easily transport their ETH and USDC holdings across various wallets.

By adding Base to its list of supported blockchains, Nexo currently supports 22 blockchain networks. Other compatible blockchains include Bitcoin, BNB Chain, Polygon, Solana, Arbitrum, Tron, and Avalanche. Still, the Nexo team explicitly told the public that some digital assets will be unavailable to users in specific jurisdictions.

Nexo Expands Business

Launched in 2018, Nexo has gained prominence for its flagship crypto lending services. The crypto exchange allows users to secure instant loans using overcollateralization, a loaning system in which borrowers are entitled to loans less than their collateral. The platform also promises a 16% annual yield on users’ assets. The crypto lender’s native token, NEXO, unlocks access to various premium benefits within the ecosystem. The lending platform reports over $11 billion in assets under management (AUM).

Last month, the lending platform re-entered the United States market after exiting in late 2022. It left the country due to a misunderstanding with the government over its Earn product. Recall that the other major crypto lenders, like Celsius, Voyager Digital, Genesis, and BlockFi, crashed that same year.

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