Nexo, a cryptocurrencies exchange located in Europe, has announced the introduction of a new product to complement its current retail platform.
Nexo Prime, a new proprietary prime brokerage platform aimed at institutional investors, companies, and high-net-worth individuals, has been named as the company’s first client.
As stated by Nexo, the Nexo Prime platform would function as a single platform that will provide investors access to enhanced tools for trading, borrowing and lending digital assets such as bitcoin (BTC) and ether (ETH), as well as for holding digital assets such as bitcoin (BTC) (ETH).
As an added benefit to its customers all around the world, the platform will provide round-the-clock service, including high-touch execution of spot andfutures products.
Institutional and corporate demand for digital assets has never been greater, and the market for prime services could be 10x over the next year. Clients entering the space demand a sophisticated, all-in-one, institutional-grade platform, and that’s exactly what we provide them with Nexo Prime.
Nexo’s co-founder Kalin Metodiev
Heavy Liquidity For 300 Pairs
Nexo Prime’s unique “Smart Routing System” is “designed to enable cost-effective execution of big transactions while balancing varied liquidity collected from top exchanges, liquidity providers, and chosen market makers,” according to the company’s website.
For comparison, the primary platform of Nexo (NEXO) now serves individual investors and small companies.
Nexo Prime’s infrastructure, on the other hand, is designed to provide institutional investors with “seamless and dependable” execution of huge orders at competitive trading rates.
Nexo Prime, according to the Nexo team, provides order book depth and deep liquidity collected from many sources for more than 300 trading pairs, with order book depth and deep liquidity aggregated from numerous sources.
Nexo Prime, in addition to offering institutional customers with on-demand access to liquidity, it provides a crypto lending platform for margin trading or OTC (over-the-counter) loans.
According to Nexo, this adds to the platform’s existing support for institutional financing solutions for a variety of assets, including cryptocurrencies, stablecoins, and fiat currencies, among others.
Furthermore, this institutional credit line provides multiple settlement choices, zero interest rates, and no danger of liquidation.
Custodial insurance in the amount of $375 million
In addition to the above, Nexo Prime will manage OTC services, which will provide access to customised services throughout Nexo’s OTC trading, borrowing, and lending desks, among other things. The site also plans to provide high loan interest rates via its “Earn Interest” function, which would allow users to increase their portfolios while remaining passively invested.
Nexo Prime’s custody system makes use of technologies like as BitGo, Fidelity Digital Assets, Ledger Vault, and Fireblocks to store all client assets in “military-grade” Class III vaults, which provides an additional layer of protection. It has also chosen to have assets insured by Lloyd’s of London and March & Arch for a total of $375 million in custodial insurance.
We’ve carefully built out and incubated Nexo Prime over the past 18 months with a core client group, and we’re excited to unveil the platform for the rest of the world to see.
Nexo Prime’s Vice President of Development Yasen Yankov
