Fidelity To Offer Bitcoin-Backed Loans Through Nexo
Lending institution Nexo has teamed up with the custodian to explore innovative products and tri-party lending agreements to institutional investors.Lending firm Nexo has partnered with institutional custodian Fidelity to bring professional bitcoin products to market, the company said in a statement Tuesday. The lender will leverage Fidelity’s enterprise-grade infrastructure to expand institutional access to its prime brokerage platform.“As a first step, the collaboration with Fidelity Digital Assets will expand Nexo’s ability to service and enhance its growing portfolio of assets under....
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On December 16, the blockchain-based lending platform Nexo announced the firm has launched a non-fungible token (NFT) lending desk. While the company offered crypto-backed loans using tokens like bitcoin and ethereum for instant funds, Nexo is offering instant liquidity to NFT holders that don’t want to sell their NFTs.
Nexo to Offer Loans for Bored Ape and Cryptopunks NFT Collateral
NFTs have become a big deal in 2021 and a billion-dollar industry almost overnight. Popular collections like the Bored Ape Yacht Club (BAYC), Cryptopunks, and Meebits have sold for hundreds....
The collaboration aims to give institutions access to digital assets with new innovative product designed specifically for their needs. Fidelity Digital Assets — the crypto wing of Fidelity Investments — and crypto borrowing and exchange platform Nexo have announced a partnership to offer crypto custodial services, products and lending services for institutional investors. The two firms will create a comprehensive product line and legal infrastructure for institutional investors looking to get exposure to cryptocurrencies.The partnership with Fidelity Digital Assets will allow Nexo to....
Nexo, a lending services provider, has partnered with Mastercard and DiPocket to offer Nexo Card, a credit card backed by bitcoin or other cryptocurrencies.
Nexo platform could rescue Celsius' customers after “what appears to be the insolvency of the Celsius Network.” There’s a glimmer of hope for the bear market’s most recent victim. Following reports that Celsius is insolvent, Nexo is offering a buy-out. A Nexo representative told Cointelegraph that Nexo is trying to do the “right thing” as they are “mindful of the repercussions for retail investors & the crypto community.”Celsius suspended all network withdrawals on Monday; users are not able to access their funds. In an open letter, Nexo has extended a formal offer to acquire qualifying....
Crypto lending platform Nexo has been accused causing $5 million worth of client liquidations after suspending the use of XRP as collateral without warning in December. United States-based crypto lending platform Nexo is facing a class-action lawsuit over suspension of XRP services on Dec. 23, 2020. Lead plaintiff, California resident Junhan Jeong submitted the complaint on April 1. The complaint accuses Nexo of breaching its user agreement by suspending the use of XRP as loan collateral without notifying its customers beforehand. The suspension followed the SEC’s legal action against....