Nexo Prime is a proprietary prime brokerage platform that caters to high-net-worth institutional, corporate and high-net worth investors. They will be able to borrow, lend, trade and store digital assets securely in one product.
Digital Asset Prime Brokerage Unit
A press release was shared with CryptoPotatoKalin Metodiev CFA Nexo Co-Founder, Managing Partner and Nexo Co-Founder, said that the demand for digital assets from institutions and corporations has never been higher. Kalin Metodiev, CFA, Nexo Co-Founder and Managing Partner, also stated that the potential market for prime services could reach 10x over the next 12 months.
Yasen Yankov (Vice President of Development, Nexo Prime), commented.
“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,” said Yasen Yankov, Vice President of Development, Nexo Prime. “We are today, already a trusted partner to leading trading firms, hedge funds, family offices, and OTC desks.”
The new unit will be able to seamlessly execute large orders with high-quality trading fees. Clients will have direct access to the crypto lending platform’s 24/7 OTC desk for high-touch executions of spot and derivatives instruments in addition to other financial needs with respect to trading, borrowing, custody, and lending. Nexo’s Smart Routing System will facilitate cost-effective execution.
Nexo Prime will be trading in addition to providing custody solutions. The company has collaborated extensively with industry players BitGo and Fireblocks as well as LedgerVault and Fidelity Digit Assets. Additionally, it has also scored custodial insurance worth $375 million via Lloyd’s of London and Marsh & Arch. Meanwhile, Nexo Prime’s crypto lending platform is designed to offer clients liquidity on demand for both margin trading and an OTC loan.
Nexo announced last week that it had integrated the highly-hyped ApeCoin in its yield program. The company offered up to 12% ROI, depending on the customers’ loyalty tier. The company also launched a $150 million fund to invest in Web3-dedicated initiatives. The initiative – Nexo Ventures – will focus on Web3, DeFi, NFTs, GameFi, metaverse, compliance, payments, and trading infrastructure.
Bakkt Holdings also joined the partnership in January of this year. As part of the deal, the Nasdaq-listed digital asset company will custody a portion of Nexo’s Bitcoin and Ethereum holdings in its regulated custodian Bakkt Warehouse.