[PRESS RELEASE – Toronto, Canada, 5th August 2021]
Alkemi Network, a recently-launched project designed to bridge CeFi customers with DeFi, has built-in with Nexus Markets, a cryptocurrency trade, and lending vault platform, to supply Nexus customers with DeFi-sourced vaults wrapped in a well-recognized trade interface.
By using Alkemi Network’s institution-grade liquidity platform, Nexus Markets is ready to supply DeFi-level yields by means of its current CeFi-based vaults, providing the very best of each worlds by way of accessibility and incomes potential. Nexus Markets customers can put their Ethereum, Wrapped Bitcoin and several other stablecoins to work and earn a passive revenue by committing their liquidity to the decentralized finance vaults built-in with Alkemi Network.
The integration goals to unravel a urgent want for a lot of customers who’re listening to concerning the very engaging yields present in DeFi, particularly when in comparison with conventional finance choices. Typically, as a way to faucet into these yields, customers must study Web3 wallets, correct custody, fuel costs, approvals, and lots of different sophisticated phrases and procedures. By distinction, making a bridge to the identical yields whereas sustaining a well-recognized Web2 interface simplifies the method and may entice a a lot increased variety of potential customers, who might desire to belief a dependable platform that gives bank-grade compliance options out of the field.
The partnership between the 2 firms permits DeFi liquidity to be accessed by CeFi customers in a trusted-counterparty atmosphere. Furthermore, the combination permits Nexus prospects to take part in an institution-grade liquidity mining program by means of Alkemi Network and earn DeFi charges. The compliant atmosphere maintained between Nexus and Alkemi has an additional safeguard to permit establishments and retailers to securely lend their property and earn yields each off-chain and on-chain.
Brian Mahoney, CSO and Co-Founder of Alkemi Network on the partnership: “DeFi liquidity, CeFi experience. This is the product-market fit driving the next wave of digital asset growth. Through NEXUS, Alkemi Network unlocks DeFi yield opportunities for downstream users while building additional onramps to our on-chain ecosystem. We see this collaboration as a potent recipe for continued DeFi adoption.”
Ian McAfee, CEO, and Co-Founder of Nexus Markets and Shift Markets on the partnership: “Clients might be on an exchange, unsure about using Web3 browser wallets. We facilitate DeFi through a familiar interface, so customers can access this new technology and the yields natively. Nexus is proud to be leading the way for institutions and retailers to safely and securely access DeFi.”
Alkemi Network launched out of stealth in April 2021, in search of to supply a practical answer to adopting DeFi for institutional shoppers. With much-needed options similar to superior reporting and permissioned swimming pools with recognized counterparties, Alkemi Network broadens entry to DeFi for finance professionals.
About Alkemi Network
Alkemi Network is bridging CeFi to DeFi, constructing an institution-grade liquidity community for monetary establishments and people to entry skilled DeFi and earn yields on their Ethereum-based digital property. The flagship protocol, Alkemi Earn (Earn), facilitates borrowing and lending inside a compliant atmosphere through a main permissioned liquidity pool of digital property (ETH, WBTC and stablecoins). Earn may also supply entry to a secondary, permissionless liquidity pool of digital property on the community’s Token Generation Event, as a part of Alkemi Network’s mission to allow everybody to hitch the decentralized monetary ecosystem.
About Nexus Markets
Nexus Markets is a crypto trade that was created inside Shift Markets, an FX trade software supplier, for the previous 4 years. The group has leveraged their community in FX and Crypto to build a best-in-class world crypto trade. The company’s growth into crypto borrowing and lending will proceed to develop as they break down the worldwide limitations that maintain again shoppers throughout FX and Crypto.
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