As digital assets popularity grows, the financial system is changing quickly. Customers who are eager to use both cryptocurrency and traditional banking facilities are driving the need for solutions that are universally compatible and accommodate both fiat as well as crypto. Crypto-backed lending platforms now fiercely compete against one another in an attempt to attract clients looking for the best of both worlds.
Using your crypto as collateral to get loans without selling your digital assets and still being in a position to utilize conventional financial tools such as debit cards, IBAN accounts, and managing fiat currencies is a very attractive proposal. In this article we will analyze popular platforms in this niche and find out which of them deliver on their promises.
What today’s users actually need?
The crypto-backed lending industry has experienced considerable changes since its early days. It is no longer a niche offering of cryptocurrencies but rather a sophisticated ecosystem that serves the interests of diversified users who range from businesses to investors.
Those platforms that can support multiple use cases at the same time are what users want today. They wish to increase the liquidity of their cryptocurrency holdings without having to make sales that would result in taxable events. In their day-to-day activities, they would like to have access to the services of ordinary banking. Additionally, they want these services to work together seamlessly without having to maintain different accounts on different platforms.
Some platforms focus purely on lending optimization, others prioritize trading and exchange services, while a growing number aim to be comprehensive financial hubs. As Ilya Volkov, CEO of YouHodler, explains: “Crypto does not have to be a full replacement for our current system. Both can coexist. We here at YouHodler want to build a bridge between these two worlds. An evolutionary bridge that brings the best parts of both industries together for a harmonious relationship”.
This bridging approach has become central to the industry’s evolution, with platforms recognizing that users don’t want to choose between crypto and traditional finance, they want both, integrated seamlessly.
Comparing the leading platforms
Fiat integration and IBAN access
The ability to seamlessly move between crypto and traditional banking remains a key differentiator. Platforms offering full IBAN accounts provide users with genuine banking infrastructure, enabling direct salary deposits, bill payments, and traditional money transfers alongside crypto services.
Nebeus is one of the providers that offer IBAN and multicurrencies fiat accounts to receive salaries, make transfers, and manage multiple fiat currencies within a single platform. This type of integration is particularly relevant for remote professionals and international users who need flexible currency management.
Crypto.com and Nexo also provide IBAN access, though with varying levels of banking functionality. The quality of fiat integration often determines whether a platform can serve as a primary financial hub or remains a supplementary service. For example, only Nebeus allows 3rd party payment (top up and withdrawal) which lets users transfer money to their IBAN from accounts not in their name, and essentially use it as a payroll card.
Crypto tools and lending
The lending landscape reveals significant differences in approach and complexity. Nexo co-founder Antoni Trenchev reflects on their pioneering role: “When we launched Nexo in 2018, we were the first company to provide instant crypto credit lines, basically carving out the market niche. This was our first accomplishment and one we’re still extremely proud of”.
However, the market has diversified considerably since then. CoinRabbit focuses exclusively on one type of crypto-backed loan, prioritizing simplicity over variety. Their philosophy is straightforward: “Your cryptocurrency should be working for you right away. You don’t have to wait for the rate of your cryptocurrency to rise to your satisfaction.”
On the other end of the spectrum, Summer.fi provides sophisticated DeFi lending strategies that, while potentially effective, may be too much for novice users to handle. YouHodler caters to consumers looking for simple, short-term lending options, while Binance uses its exchange infrastructure to provide flexible short-term loans.
Nebeus, meanwhile, positions itself between these extremes. As Kira Balabanova, Product Lead at Nebeus, explains: “At Nebeus, we’re building the future of finance by making crypto feel as intuitive as traditional money. You don’t need deep blockchain knowledge — we’ve designed a clear, accessible product range for everyday use. Users can choose from different loan types, such as StableLoan in stablecoins, Flexible loans for more customisation, or Interest-only and Bullet loans for simplified payment structures”.
User experience & accessibility
The gap in platform complexity has grown more noticeable. Some focus on accessibility for widespread adoption, while others cater to advanced DeFi users who are at ease with intricate yield strategies.
Although platforms such as Summer.fi provide sophisticated features, their effective use requires a high level of blockchain expertise. Services like Nebeus, on the other hand, concentrate on enabling crypto functionality for users of all technical skill levels.
The most effective services in this sphere strike a balance between usability and functionality, offering robust features without an overly complicated user interface. The ability of a platform to reach users who are not crypto-native and gain widespread adoption is frequently determined by this balance.
Cards and spending
Physical and virtual debit cards are now common across the industry, but their quality and implementation vary widely. The best solutions provide real-time crypto-to-fiat conversion at competitive rates, combined with clear, transparent fees.
Nebeus makes spending and withdrawing crypto easy by letting users link multiple crypto and fiat accounts to one card with no monthly fee for crypto-only spending, while also offering direct fiat withdrawals to bank cards — a rare feature that supports its unique global crypto mass payout service for businesses, setting it apart from competitors like Crypto.com and Binance
What’s right for you
Choosing the right platform depends heavily on your specific use case and experience level.
For active traders seeking maximum functionality, Binance or Crypto.com provide extensive trading tools, multiple asset support, and integrated lending features. These platforms excel when users need comprehensive exchange services alongside lending capabilities.
For DeFi power users comfortable with complexity, Summer.fi offers sophisticated yield optimization strategies and advanced lending mechanisms. The platform rewards users willing to navigate its complexity with potentially superior returns.
For simple, fast crypto loans and remote professionals, Nebeus provides the most comprehensive solution. With multi-currency IBAN support, intuitive crypto lending, flexible spending tools, and B2B services (business IBANs and payouts) all integrated into one platform, it addresses the broadest range of financial needs without requiring deep crypto expertise.
The industry continues evolving rapidly, with platforms constantly adding features and improving integration. The most successful solutions will likely be those that can provide institutional-grade functionality while maintaining the simplicity and accessibility that mainstream adoption requires.
As the boundaries between traditional and digital finance continue blurring, the platforms that can most effectively bridge both worlds will ultimately capture the largest share of this growing market.
