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About Nexo

Nexo is a legal services company based out of Paris, France.

Nexo Headquarter Location

17 rue de la Paix

Paris, 75002,

France

33 1 55 04 19 90

Latest Nexo News

Nexo Further Expands Into DeFi As It Invests $10 Million In Yield Inc.

Jul 13, 2021

Nexo Further Expands Into DeFi As It Invests $10 Million In Yield Inc. Nexo further expands into DeFi as it invests $10 million in Yield Inc. marking yet another strategic investment into the DeFi ecosystem. Takeaway: Nexo invests $10 million in Yield Inc. Strategic investment for Nexo, further opening up to the DeFi space and cooperating with the Yield team Nexo invests into Yield protocol  Nexo, one of the largest lending institutions in the crypto space, completed a $10 million investment in DeFi company Yield Inc on Monday, July 12. The investment, as part of Yield Inc’s Series A funding round, can be interpreted as another strategic investment into the DeFi space, following the $16 million investment in Qredo’s private token sale just six days prior. Yield Inc, the company behind the Ethereum-based Yield Protocol, is building out the DeFi space and enabling fixed-rate lending and borrowing. Michael Bentley, CEO of EulerXYZ comments that “While we are working on a variable interest rate protocol, there’s no doubt that there’s a huge market for reliable fixed rate interest in DeFi”. Pushing forward the “state of the art in on-chain financial products and automated market makers” Yield currently allows users to borrow, lend, or pool DAI with V1 of its protocol. V2 has been announced and will go live perhaps towards the end of the year. Nexo states that the move represents “another important milestone on its strategic agenda”, balancing out its mission to offer reliable investment returns for its retail-oriented customer base and its wish to invest in “young and prospective Blockchain projects” that will help shape the ecosystem to come, as well as “influence the future generation” of crypto developers. “Nexo and Yield could form the perfect symbiosis in the industry’s efforts to transform digital assets into a new asset class. While Nexo is a dominant factor in the traditional crypto-backed CeFi space, new business niches could be unlocked by Yield’s zero-coupon fixed-income instruments, dynamic interest rate determination across maturities, and innovative risk management” – Tatiana Metodieva, CFA Nexo Yield Website Cooperation extends beyond funding, looking to cooperate in building out the DeFi space In their announcement , the company states that the investment goes beyond just providing one-time funding but that Nexo will work together with Yield and “help Yield’s efforts to build DeFi native versions of traditional finance products”. The company will also help 2020 founded and remotely operating team at Yield with business development and growth, as well as cooperate in establishing “new standards of professionalism and institutionalization to the nascent DeFi industry”. An industry continually subject to negative press, due to its highly disruptive potential for the traditional financial infrastructural landscape. “Nexo brings a unique perspective to Yield’s incredible team of investors and advisors. Nexo understands both traditional crypto-backed CeFi, but also understands what it means to be a DeFi power user. We are thrilled to have their help as we launch version 2 of the Yield Protocol and begin to build a community around fixed-rate, fixed-term borrowing and lending products” – Allan Niemerg, CEO Yield

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