Europe-based digital asset change Nexo has launched a brand new product to enrich its present retail platform. Dubbed Nexo Prime, the brand new proprietary prime brokerage platform targets institutional traders, firms, and high-net-worth people.
In keeping with Nexo, the Nexo Prime platform is designed to function a unified platform that gives traders with entry to superior instruments for buying and selling, borrowing, lending, and storing digital property corresponding to bitcoin (BTC) and ether (ETH). As well as, the platform will supply 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, stated:
“Institutional and company demand for digital property has by no means been higher, and the marketplace for prime providers might be 10x over the following 12 months. Purchasers coming into the area demand a classy, 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 enormous trades whereas balancing diversified liquidity aggregated from main exchanges, liquidity suppliers, and choose market makers.”
In contrast to Nexo’s (NEXO) core platform, which at the moment serves retail traders and small companies, Nexo Prime’s infrastructure goals to empower institutional traders with “seamless and dependable” execution of enormous orders at aggressive buying and selling charges. The Nexo workforce has specified that Nexo Prime gives order guide depth and deep liquidity aggregated from a number of sources for greater than 300 buying and selling pairs.
In addition to offering institutional shoppers with entry to liquidity on demand, Nexo Prime additionally gives 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 varied property, together with cryptocurrencies, stablecoins, and fiat currencies. As well as, this institutional credit score line gives versatile settlement choices, zero rates of interest, and no liquidation danger.
$375 million value of custodial insurance coverage
Along with the above, Nexo Prime will administer OTC providers, together with entry to customized providers throughout Nexo’s OTC buying and selling, borrowing, and lending desks. The platform additionally intends to supply excessive lending rates of interest by means of its “Earn Curiosity” characteristic, serving to traders 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 consumer property in “military-grade” Class III vaults. It has additionally opted to cowl property underneath 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, stated:
“We’ve fastidiously constructed out and incubated Nexo Prime over the previous 18 months with a core consumer group, and we’re excited to unveil the platform for the remainder of the world to see.”