Crypto exchange Nexo to launch brokerage for big investors
Europe-based digital asset alternate Nexo has launched a brand new product to enhance its current retail platform. Dubbed Nexo Prime, the brand new proprietary prime brokerage platform targets institutional buyers, companies, and high-net-worth people.
In keeping with Nexo, the Nexo Prime platform is designed to function a unified platform that gives buyers with entry to superior instruments for buying and selling, borrowing, lending, and storing digital property resembling bitcoin (BTC) and ether (ETH). As well as, the platform will provide round the clock service to all of its shoppers throughout the globe, together with high-touch executions of spot- and derivatives devices.
Kalin Metodiev, Nexo’s co-founder and managing companion, mentioned:
“Institutional and company demand for digital property has by no means been better, and the marketplace for prime providers may very well be 10x over the following 12 months. Purchasers coming into the house demand a complicated, all-in-one, institutional-grade platform, and that’s precisely what we offer them with Nexo Prime.”
Deep liquidity for over 300 buying and selling pairs
Nexo Prime’s proprietary so-called “Good Routing System” is “set to ship cost-effective execution of huge trades whereas balancing diversified liquidity aggregated from main exchanges, liquidity suppliers, and choose market makers.”
In contrast to Nexo’s (NEXO) core platform, which in the present day serves retail buyers and small companies, Nexo Prime’s infrastructure goals to empower institutional buyers with “seamless and dependable” execution of huge orders at aggressive buying and selling charges. The Nexo staff has specified that Nexo Prime provides order e-book depth and deep liquidity aggregated from a number of sources for greater than 300 buying and selling pairs.
Apart from offering institutional shoppers with entry to liquidity on demand, Nexo Prime additionally provides a crypto lending platform for margin buying and selling or OTC (over-the-counter) loans.
In keeping with Nexo, this enhances the platform’s help for institutional financing choices for numerous property, together with cryptocurrencies, stablecoins, and fiat currencies. As well as, this institutional credit score line provides versatile settlement choices, zero rates of interest, and no liquidation threat.
$375 million value of custodial insurance coverage
Along with the above, Nexo Prime will administer OTC providers, together with entry to personalised providers throughout Nexo’s OTC buying and selling, borrowing, and lending desks. The platform additionally intends to supply excessive lending rates of interest by way of its “Earn Curiosity” function, serving to buyers passively develop portfolios.
For enhanced safety, Nexo Prime’s custody framework leverages options like BitGo, Constancy Digital Belongings, Ledger Vault, and Fireblocks to retailer all shopper property in “military-grade” Class III vaults. It has additionally opted to cowl property beneath a $375 million value of custodial insurance coverage from Lloyd’s of London and March & Arch.
Yasen Yankov, Nexo Prime’s Vice President of Improvement, mentioned:
“We’ve rigorously constructed out and incubated Nexo Prime over the previous 18 months with a core shopper group, and we’re excited to unveil the platform for the remainder of the world to see.”