Nexo Partners with FIO to Improve Blockchain Usability

3 min read

Nexo is once again at the forefront of innovation for the blockchain community by becoming the newest member of FIO, the Foundation of Interwallet Operability. By partnering with FIO Nexo becomes one of the power players alongside Binance’s Trust Wallet, in the collaborative effort to improve usability for the blockchain ecosystem.

FIO is working to create a standard decentralized service layer for the blockchain space which will process messaging, workflow and communications between the myriad of different wallets, exchanges, and platforms, thus eliminating the complexities of making blockchain transactions. In effect, FIO’s platform is like an email domain, instead of dealing with long complicated public addresses users and firms can use a simple FIO address that works across multiple blockchain networks. The FIO Protocol will also enable users to send payment requests, store metadata associated with their transactions and otherwise manage their crypto wealth. The result: a clearer, safer, more efficient and usable blockchain network.

David Gold, CEO of Dapix Inc, the company in charge of the development of the FIO Protocol, noted:

“Just as Nexo has streamlined the crypto lending space, FIO will do the same for crypto usability, so it’s great to welcome Nexo and have the two companies aligned.”

Until recently FIO’s partners consisted mainly of wallets and exchanges. Nexo is the first crypto lending company to become a member of FIO, thus demonstrating the importance of FIO’s cause for the blockchain ecosystem, as well as Nexo’s innovative character and active involvement in the development of the blockchain industry for which the company has already processed a striking $1+ billion.

Antoni Trenchev, Nexo’s co-founder and managing partner, shared his thoughts on the new partnership:

“The only way to grow crypto adoption is by solving the industry’s pressing problems. This is what Nexo has done with our signature Instant Crypto Credit Lines™ crypto credits for 400K+ holders and we are thrilled to serve the millions who will enter the crypto space thanks to the usability FIO is bringing to the industry.”

About FIO Protocol

The Foundation for Interwallet Operability (FIO) is a consortium of leading wallets, exchange, and crypto payment processors supporting the FIO Protocol — a decentralized Service Layer that removes the risk, complexity, and inconvenience of sending and receiving tokens and coins identically across every blockchain. The FIO Protocol is not a wallet and does not compete with other blockchains, rather, it makes the user experience better across every wallet and every blockchain.

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About Nexo

Nexo is the blockchain’s leading regulated digital assets institution and the only provider of Instant Crypto Credit Lines™, offering investors tax-efficient access to the value of their digital assets without having to sell them. Built by a team of professionals with more than a decade of FinTech success, the Nexo platform has processed more than $1 billion in under 18 months.

All Nexo products are fully automated, offer incredibly intuitive user experiences and the flexibility to fit the individual financial needs of a global customer base of more than 400,000 users across 200 jurisdictions. Nexo boasts guaranteed approvals, no hidden fees, and an unrivaled $100 million custodial insurance which has appealed to a wide variety of institutional clients, hedge funds and family offices, crypto mining enterprises, blockchain companies, exchanges, and everyday cryptocurrency investors.

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