Nexo Crypto Wallet Provider Launches a New OTC Borrowing, Lending & Trading Desk
Nexo cryptocurrency wallet announced on Tuesday the launch of the Over the Counter (OTC) trading, borrowing and lending desk. The company plans to offer privatized and personalized OTC services to their institutional, large retail and corporate clients who cannot access the liquidity on normal exchanges.
Nexo is a cryptocurrency exchange that allows users to trade digital assets, take out loans using crypto and lend digital assets at high returns. Currently, the exchange allows users to borrow fiat using over twenty cryptocurrency pairs as collateral such as Bitcoin (BTC), Ethereum (ETH), Monero (XMR), Dash (DASH) and other top cryptocurrencies.
Users will be able to use their crypto assets to borrow three fiat currencies – Euro, US Dollar and British Pound – or a range of stable coins including Tether (USDT), True USD (TUSD), USD Coin (USDC), Paxos Standard (PAX), and Dai (DAI).
“The OTC Desk offers 1-on-1 service and will further enhance Nexo’s product offering in addition to our signature automated Instant Crypto Credit Lines™ and Earn 8% Interest accounts.”
– Nexo team
The minimum deposit required by the corporations and institutional investors is $100,000 USD and a Nexo wallet verified using government documents and IDs.
The cryptocurrency wallet provider announced on July 1st its partnership with Terra Partners to grow the crypto lending and savings markets across Asia. Following the partnership, Nexo will allow its lenders an efficient platform eliminating the need for cumbersome credit checks. Furthermore, Nexo will offer users the ability to obtain an instant loan in fiat currency or cryptocurrency by placing their Terra in a Nexo account (http://nexo.io/).
The partnership will also offers users in Asia a higher yield than the normal Nexo savers and far much more than the traditional markets. Terra will top Nexo’s 8% interest rate with additional returns, funded by Terra’s seigniorage model, which would allow Terra holders to enjoy double-digit yearly returns on Nexo.
Nexo has launched an Over-the-Counter (OTC) Trading, Borrowing and Lending Desk — a private and more personalized service as requested by many institutional and large retail clients.
Minimum amount $100,000.https://t.co/8rGZmehuwU
— Nexo (@NexoFinance) July 2, 2019