Nash has applied for a MiCA licence from the Dutch Authority for Financial Markets (AFM).
The application is currently under review by the AFM.
Hello Nash Community,
Welcome to our Q1 2026 update.
This quarter was about getting a major set of product work into a release-ready state. Our upcoming 18.0.0 release brings together several initiatives we have been building for a long time: subscriptions, a reworked referral program, priority support, Contacts v2, and a major expansion of L1 payments and round-ups.
Before we get into that, we want to address the obvious topic first.
Our MiCA process is still ongoing.
We know many in the community are watching this closely, and understandably so. It remains a major priority for the company and continues to shape how we sequence launches and broader market plans.
As always, we cannot comment on the details of an ongoing regulatory process, and we do not want to speculate on timing. What we can say is that this quarter was used exactly as it should be used: to get ready.
That means product work was finalized, systems were refined, internal processes were tightened, and release preparation continued across multiple areas of the platform and planned marketing efforts are shaping up nicely. So while some things are not public yet, this was not a slow quarter internally.
On the contrary: Q1 was about making sure that when we do roll things out, we are doing so with a much stronger product and operational setup behind it.
Release 18.0.0 is one of the biggest product packages we have prepared in quite some time.
18.0.0 is a coordinated release across the new subscription model, support, growth, user-to-user payments, and multi-chain payment infrastructure. Some parts of it were already completed earlier and held for the right release window. Other parts were finalized this quarter. What was left was to make the pieces come together.
Here is what is included in detail.
One of the biggest additions in this release is our new subscription model and user tier system.
We see this as an important step for Nash for three reasons.
First, it gives users a clearer and more flexible pricing structure. Not every user uses Nash in the same way, and our product should reflect that better.
Second, it creates a stronger long-term foundation for the business by aligning fees, benefits, and product usage more clearly.
Last but not least, the NEX tier gives holders a clear additional source of utility beyond revenue share. By tying meaningful subscription benefits to a fixed holding requirement, it creates a transparent value anchor for the token and strengthens its practical role within the Nash ecosystem.
Please refer to this overview table for subscription tier details:
* NEX tier details
** Fair use limits apply (<= 10M$ p.a. / 5 trades a day)
This structure is meant to cover a broader range of users more effectively.
Some users want maximum flexibility and only use certain services occasionally. Others are highly active and care about getting the best possible economics across the app. Subscriptions give us a much better way to serve both groups.
As you can see, we are also introducing an updated fee structure throughout our products. Overall, the aim is straightforward: make pricing easier to understand, make heavy usage more attractive, and create clear practical value for subscribers and NEX holders.
We have said before that we want Nash to compete on actual utility, not complexity. This is part of that.
With subscriptions, we are also launching Priority Support for Pro and NEX users.
This will provide faster response times and more direct support through our new chat-based support setup.
Support is easy to underestimate until you need it. In practice, it is a major part of the user experience, especially in a product that includes onboarding, cards, payments, crypto transfers, and fiat services. We want our most active users to have a smoother and faster path when they need help.
This also gives us a stronger support structure internally and a better setup to scale from.
We have also fully reworked the referral program.
The new version is more flexible, easier to use, and much more meaningful for both sides.
Referral codes can now be added up to 7 days after signup.
This reduces friction for new users and creates a much stronger incentive for community-driven growth.
It also fits how we think about referrals in general: they should reward real usage and long-term alignment, not just signups for the sake of signups.
Another major piece now ready is Contacts v2.
This is a feature we have mentioned before, and it has now matured into something much more complete. Using NashTags, users will be able to:
This is an important step for the product because it makes Nash more connected and much more practical for peer-to-peer use.
Instead of treating payments, contacts, and communication as separate functions, Contacts v2 brings them into one flow. That makes the experience simpler and opens the door to much more natural user interaction inside the app.
The same system also powers support access for eligible subscription tiers.
For Pro and NEX users, this means Priority Support becomes part of the product flow itself rather than a disconnected process. We think this will improve the overall support experience significantly and make communication much more direct.
It is also simply a better foundation for future service improvements.
Building on the infrastructure work from previous quarters, we are expanding Crypto Payments and Round-Ups to work directly from non-custodial L1 wallets across multiple chains.
This is a meaningful technical upgrade.
It expands practical utility for users, supports more spending and DCA use cases, and gives us a more future-proof way to add support for assets and chains over time.
Just as importantly, this was built with modularity in mind. So this is not only an expansion of what users can do today, but also groundwork for what we can add more efficiently going forward.
As in previous quarters, a significant part of the work was less visible from the outside.
That included QA, internal rollout planning incl. active hiring for marketing positions, expansion of the compliance and risk team, billing and fee logic, support workflows, UX refinements, infrastructure alignment, and broader operational preparation around the release.
This type of work usually does not make for exciting headlines, but it matters. It is what turns finished features into launches that are actually stable and scalable.
Over the last year, we have spent a lot of time strengthening Nash at the foundation level. Q1 continued that work, but with a stronger emphasis on getting major components into a state where they can be released properly and work together as one coherent package.
From the outside, quarters shaped by regulatory processes can sometimes look quieter than they really are.
Internally, Q1 was anything but quiet.
We now have a major release prepared that includes:
That is meaningful product progress. It also says something about where Nash is heading more broadly.
We are not just adding standalone features. We are building a more complete product around payments, access, support, and real everyday utility.
Our focus remains the same:
A lot of what we want to bring to market is no longer in the concept stage. It is built. The work has been in making sure it is ready, aligned, and worth launching properly.
That is what Q1 was about.
We understand that the community wants visible progress, and that is fair.
There are limits to what we can say publicly around ongoing regulatory matters, but we also do not want that to create the impression that nothing is happening. A lot has happened.
Release 18.0.0 is the result of substantial work across product, support, pricing, infrastructure, and platform architecture. We believe it will mark an important step forward for Nash.
Thanks again for your patience, your feedback, and your continued support.
More updates soon.
The Nash Team
Neon Exchange Aktiengesellschaft is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act – for more information, please see this link
Your card is issued by Modulr Finance B.V. pursuant to a license by Visa Europe. Visa and the Visa brand mark are registered trademarks of Visa Europe.Neon Exchange Aktiengesellschaft also provides fiat-crypto exchange services. These are separate and unrelated to the account and payment services you receive from Modulr Finance B.V.
Neon Exchange Aktiengesellschaft is the issuer of the NEX Token.
Nash Exchange B.V. has applied for a MiCA license from the Dutch Authority for the Financial Markets (AFM). The application is currently under review.
