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Europe-based digital asset alternate Nexo has launched a brand new product to enrich its current retail platform. Dubbed Nexo Prime, the brand new proprietary prime brokerage platform targets institutional traders, firms, and high-net-worth people.
In response to 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 equivalent to bitcoin (BTC) and ether (ETH). As well as, the platform will supply round the clock service to all of its purchasers 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 companies might be 10x over the following 12 months. Shoppers coming into the area 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 as we speak serves retail traders and small companies, Nexo Prime’s infrastructure goals to empower institutional traders with “seamless and dependable” execution of huge orders at aggressive buying and selling charges. The Nexo crew has specified that Nexo Prime affords order ebook depth and deep liquidity aggregated from a number of sources for greater than 300 buying and selling pairs.
Moreover offering institutional purchasers with entry to liquidity on demand, Nexo Prime additionally affords a crypto lending platform for margin buying and selling or OTC (over-the-counter) loans.
In response to 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 affords versatile settlement choices, zero rates of interest, and no liquidation threat.
$375 million price of custodial insurance coverage
Along with the above, Nexo Prime will administer OTC companies, together with entry to personalised companies throughout Nexo’s OTC buying and selling, borrowing, and lending desks. The platform additionally intends to supply excessive lending rates of interest by 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 shopper property in “military-grade” Class III vaults. It has additionally opted to cowl property beneath a $375 million price of custodial insurance coverage from Lloyd’s of London and March & Arch.
Yasen Yankov, Nexo Prime’s Vice President of Growth, stated:
“We’ve fastidiously 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.”
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