Crypto trade Nexo to launch brokerage for large traders

by Cryptospacey

Europe-based digital asset trade 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, companies, 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 similar to 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 accomplice, mentioned:

“Institutional and company demand for digital property has by no means been larger, and the marketplace for prime providers could possibly be 10x over the following yr. Purchasers getting 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 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 present 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 crew has specified that Nexo Prime presents order guide 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 presents a crypto lending platform for margin buying and selling or OTC (over-the-counter) loans.

In response to Nexo, this enhances the platform’s assist for institutional financing choices for varied property, together with cryptocurrencies, stablecoins, and fiat currencies. As well as, this institutional credit score line presents 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 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 its “Earn Curiosity” characteristic, serving to traders passively develop portfolios.

For enhanced safety, Nexo Prime’s custody framework leverages options like BitGo, Constancy Digital Property, Ledger Vault, and Fireblocks to retailer all consumer property in “military-grade” Class III vaults. It has additionally opted to cowl property below 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 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.”

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