Alkemi Network Partners With Nexus Markets To Bring Institutional DeFi To Exchange Users
[PRESS RELEASE – Toronto, Canada, 5th August 2021]
Alkemi Network, a recently-launched undertaking designed to bridge CeFi customers with DeFi, has built-in with Nexus Markets, a cryptocurrency change, and lending vault platform, to supply Nexus customers with DeFi-sourced vaults wrapped in a well-recognized change interface.
By using Alkemi Community’s institution-grade liquidity platform, Nexus Markets is ready to supply DeFi-level yields via its current CeFi-based vaults, providing the perfect 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 Community.
The combination goals to unravel a urgent want for a lot of customers who’re listening to in regards to the very engaging yields present in DeFi, particularly when in comparison with conventional finance choices. Sometimes, with the intention to faucet into these yields, customers have to study Web3 wallets, correct custody, gasoline costs, approvals, and plenty of different difficult phrases and procedures. Against this, making a bridge to the identical yields whereas sustaining a well-recognized Web2 interface simplifies the method and may entice a a lot greater variety of potential customers, who could choose to belief a dependable platform that provides bank-grade compliance options out of the field.
The partnership between the 2 corporations allows DeFi liquidity to be accessed by CeFi customers in a trusted-counterparty surroundings. Moreover, the mixing allows Nexus clients to take part in an institution-grade liquidity mining program via Alkemi Community and earn DeFi charges. The compliant surroundings 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-Founding father of Alkemi Community on the partnership: “DeFi liquidity, CeFi expertise. That is the product-market match driving the subsequent wave of digital asset development. By way of NEXUS, Alkemi Community unlocks DeFi yield alternatives for downstream customers whereas constructing further onramps to our on-chain ecosystem. We see this collaboration as a potent recipe for continued DeFi adoption.”
Ian McAfee, CEO, and Co-Founding father of Nexus Markets and Shift Markets on the partnership: “Purchasers may be on an change, uncertain about utilizing Web3 browser wallets. We facilitate DeFi via a well-recognized interface, so clients can entry this new expertise and the yields natively. Nexus is proud to be main the best way for establishments and retailers to securely and securely entry DeFi.”
Alkemi Community launched out of stealth in April 2021, looking for to supply a practical answer to adopting DeFi for institutional purchasers. With much-needed options corresponding to superior reporting and permissioned swimming pools with recognized counterparties, Alkemi Community broadens entry to DeFi for finance professionals.
About Alkemi Community
Alkemi Community 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 surroundings by way of a major permissioned liquidity pool of digital property (ETH, WBTC and stablecoins). Earn may even supply entry to a secondary, permissionless liquidity pool of digital property on the community’s Token Era Occasion, as a part of Alkemi Community’s mission to allow everybody to hitch the decentralized monetary ecosystem.
About Nexus Markets
Nexus Markets is a crypto change that was created inside Shift Markets, an FX change software program supplier, for the previous 4 years. The crew has leveraged their community in FX and Crypto to construct a best-in-class world crypto change. The corporate’s enlargement into crypto borrowing and lending will proceed to develop as they break down the worldwide obstacles that maintain again purchasers throughout FX and Crypto.