Nexo Kicks Off Polkadot Integration, Adds DOT to Borrow, Earn, and Exchange Offerings

Jun 23, 2021•2 min read

LONDON, June 23, 2021 — Nexo, a leading institution for digital assets, has initiated the integration of Polkadot, a sharded protocol that allows decentralized blockchain networks to operate together, by enabling clients to buy and sell Polkadot’s native DOT, earn up to 8% interest, and borrow against the asset at just 6.9% APR within the Nexo Platform.

As a direct answer to frequent customer requests, DOT joins Nexo's platform and brings the total of digital assets available for the firm’s Earn suite to 19. Within the next few weeks, the company plans to add support for more crypto assets that meet its standards.

Nexo’s decision to give its clients instant exposure to Polkadot’s native asset is aligned with the company’s commitment to participation in DeFi protocols. DOT has been enjoying significant and well-deserved attention from both retail investors and institutions over the past months. Nexo expects to see strong demand for the currency on its platform, allowing the company to assess its full integration in the future.

With the launch of DOT, Nexo clients will be able to:

  • Buy and sell DOT on the Nexo Exchange with a variety of crypto market pairs.
  • Еarn up to 8% interest on DOT, paid out daily.
  • Borrow against DOT with the industry’s most versatile crypto credit line, with interest starting from 6.9% APR.

Commenting on the DOT launch, Nexo Co-founder and Managing Partner Antoni Trenchev said: “We are delighted to expand our high-yield earn product and offer cost-efficient funding against Polkadot’s native asset, thus further realizing the potential of cryptocurrencies as an asset class. Kudos to the product team for making the first step towards DOT’s full integration and giving our 1.5 million clients access to the DeFi ecosystem in a secure manner with the Nexo platform." With the initial launch of DOT on Nexo, clients will be able to add the asset to their Nexo accounts by purchasing it through the Nexo Exchange. This new approach of integrating currencies to Nexo allows for faster addition of new assets to the platform and a wider range of crypto holders.

About Nexo

Nexo is a leading digital assets institution. Committed to enhancing the value and utility of digital assets, the company offers a comprehensive suite of services including advanced trading solutions, liquidity aggregation from top trading venues, and flexible asset-backed credit lines. Since its inception in 2018, Nexo has processed $130+ billion for 7,000,000+ satisfied users across more than 200 jurisdictions. For more details, visit: nexo.com

Media contact for Nexo:

Stella Zlatareva Nexo PR Team [email protected]