Crypto Lender Nexo Unveils Prime Digital Asset Brokerage Unit
Dubbed Nexo Prime, the exclusive prime brokerage platform will focus on catering to institutional, corporate and high net worth investors. It aims to provide them with all the necessary tools to securely trade, borrow, lend and store their digital assets in one product.
Master Digital Asset Brokerage Unit
In a statement shared with CryptoPotato, Kalin Metodiev, CFA, co-founder and managing partner of Nexo, revealed that the demand from institutions and businesses for digital assets has never been stronger. The executive also estimated that the market for prime services could potentially grow 10 times over the next year.
Yasen Yankov, Vice President of Development, Nexo Prime, commented,
“We’ve carefully built and incubated Nexo Prime over the past 18 months with a group of core customers, and we’re excited to unveil the platform for the rest of the world to see,” said Yasen Yankov, vice-president. development chair. , Nexo Prime. “We are already a trusted partner today for major trading firms, hedge funds, family offices and OTC desks.”
The new unit seeks to execute large orders seamlessly, with competitive trading fees. Clients will have direct access to the OTC desk of the crypto lending platform 24/7 for high-pressure executions of spot and derivative instruments in addition to other financial needs for trading, borrowing, custody and lending. Nexo’s smart routing system will facilitate profitable execution.
Besides trading, Nexo Prime will also focus on providing custodial solutions and has collaborated with industry players such as BitGo, Fireblocks, Ledger Vault and Fidelity Digital Assets. In addition, he has also taken out custody insurance worth $375 million through Lloyd’s of London and Marsh & Arch. Meanwhile, Nexo Prime’s crypto lending platform is designed to provide clients with on-demand liquidity for margin trading and OTC lending.
Last week, Nexo announced the integration of the highly publicized ApeCoin into its yield program. The company offered up to 12% return on investment, depending on the level of customer loyalty. He also launched a new fund worth $150 million to invest in Web3 projects. The initiative – Nexo Ventures – will focus on Web3, DeFi, NFT, GameFi, metaverse, compliance, payments and trading infrastructure.
The cryptocurrency lending platform also partnered with Bakkt Holdings in January this year. As part of the deal, the Nasdaq-listed digital asset firm will hold a portion of Nexo’s Bitcoin and Ethereum holdings in its regulated depository Bakkt Warehouse.
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