According to CoinMeta, Nexo Australia launched an encrypted collateral credit line on August 19th, becoming an authorized credit representative under Australia's consumer credit framework. Eligible customers can use supported digital assets as collateral to obtain Australian dollars or stablecoins. The annual interest rates range from 0.9% to 21.9%, depending on the product and the customer's loyalty level. Nexo Australia has obtained lending authorization in Australia and is one of the few digital asset platforms to have received such authorization. The company states that customers can borrow without having to sell their digital assets, and the funds are usually available within 24 hours. Nexo has also introduced a feature called Booster, which allows eligible customers to triple their digital asset positions.