Nexo launches digital asset prime brokerage unit: Nexo Prime
Early last month, we introduced you to Nexo, a London, England-based tech startup that positions itself as “the world’s leading regulated financial institution for digital assets.” Their team consists of over 400 employees, including Antoni Trenchev and Kosta Kantchev, and Kalin Metodiev who co-founded Nexo.
Nexo raised $52.5 million in an 11x oversubscribed private token sale in 2018. Arrington Capital participated in the private sale along with dozens of investors. The VC’s founder, Michael Arrington, acted as an advisor to Nexo.
Today, Nexo announced the launch of Nexo Prime, a proprietary prime brokerage platform for institutional, corporate, and high-net-worth investors that gives investors all the tools necessary to trade, borrow, lend, and securely store their digital assets in a single product. Nexo Prime is created for a market that never sleeps and offers best-in-class, around-the-clock service to clients across the globe.
“Institutional and corporate demand for digital assets has never been greater, and the market for prime services could 10x over the next year,” said Kalin Metodiev, CFA, Co-Founder and Managing Partner at Nexo. “Clients entering the space demand a sophisticated, all-in-one, institutional-grade platform, and that’s exactly what we provide them with Nexo Prime.”
“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. We provide our clients with access to deep, diversified liquidity pools; lending to meet any need; the best prices in the market; efficient, low-latency execution; and an industry-leading custody solution in partnership with BitGo, Fireblocks, Ledger Vault, and Fidelity Digital Assets, all combined with $375 million in custodial insurance via Lloyd’s of London and Marsh & Arch.”
What does Nexo Prime offer?
Nexo Prime’s best-in-class infrastructure helps execute large orders smoothly and reliably, with competitive trading fees. Nexo Prime also enables users to get cost-effective execution with Nexo’s Smart Routing System, access diversified liquidity, aggregated from the world’s leading exchanges, liquidity providers, and select market makers.
Nexo Prime also allows users to trade directly through API calls, or use its intuitive trading user interface. Nexo customers also have access to Nexo’s 24/7 OTC desk for high-touch executions of spot and derivatives instruments, access to all financial needs – trading, borrowing, custody, and lending – with a single institution, and complete the client onboarding process with Nexo once and get access to the broader crypto marketplace through a unified interface.
Nexo Prime’s custody framework combines industry-leading solutions from the best in the business: BitGo, Fireblocks, Ledger Vault, and Fidelity Digital Assets.
- All digital assets are stored in military-grade Class III vaults.
- Have instant access to funds at all times for trading.
- Stay protected with $375 million in custodial insurance via Lloyd’s of London and March & Arch.
- Industry-first, real-time audit of Nexo’s custodial holdings by Armanino LLP.
Nexo Prime’s market-leading crypto lending platform is built to provide clients with liquidity on demand, whether it’s needed for margin trading or an OTC loan.
- Get access to institutional financing options for cryptocurrencies, stablecoins, and fiat.
- Scale trading strategies while preserving the value of crypto assets.
- Add extra leverage to a portfolio by borrowing at the best market rates.
- All collateral loans have flexible duration and are powered by a deep, diversified liquidity pool.
Nexo Prime is the proprietary prime brokerage platform of Nexo, the world’s leading regulated digital assets institution. Nexo Prime gives institutional, corporate, and high-net-worth investors all the tools necessary to trade, borrow, lend, and securely store their digital assets in a single product. Nexo Prime is created for a market that never sleeps and offers best-in-class, around-the-clock service to clients across the globe.
Nexo is the world’s leading regulated digital assets institution. The company’s mission is to maximize the value and utility of cryptocurrencies by offering an Exchange service with 300+ market pairs, tax-efficient Instant Crypto Credit Lines™, a high-yield Earn Crypto Interest suite, and sophisticated trading and OTC capabilities while providing top-tier custodial insurance and military-grade security of the Nexo Wallet. Nexo has processed $80+ billion for 4,000,000+ users across more than 200 jurisdictions.
Below is a video overview of Nexo Prime Platform.