NEW YORK, Sept. 9, 2021 /PRNewswire/ — Nexus Markets, a crypto liquidity exchange with borrowing and lending vaults, announced their integration with Alkemi Network to offer DeFi yielding vaults and to earn ALK tokens. The integration with Alkemi has allowed for an expansion into more lending vaults by merging their existing CeFi stablecoin and cryptocurrency vaults and offer incremental DeFi yields across ETH, WBTC and stablecoins, while allowing users to earn ALK tokens for their deposits.
Nexus Markets and Alkemi Networks partnership is expanding to bridge the gap between CeFi & DeFi. Nexus will now be a CeFi on-ramp for users to invest in Alkemi Networks DeFi lending pools.
Alkemi Network launched out of stealth April 2021, bridging CeFi to DeFi with their on-chain liquidity network. The Alkemi Network offers a suite of tools and products that unlocks DeFi yield opportunities for its institution-grade userbase. The flagship protocol, Alkemi Earn (‘Earn’), facilitates borrowing and lending within a trusted environment via Alkemi Network’s verified ‘permissioned’ liquidity pool (supporting ETH, WBTC and stablecoins).
The partnership between the two companies enables DeFi liquidity to be accessed by CeFi users in a trusted-counterparty environment. Further, the integration enables Nexus customers to participate in an institution-grade liquidity mining program through Alkemi and earn DeFi rates and earn ALK tokens via an airdrop in October. The compliant environment maintained between Nexus and Alkemi has an extra safeguard to allow institutions and retailers to securely lend their assets and earn yields both off-chain and on-chain.
Brian Mahoney, CSO and Co-Founder of Alkemi Network on the partnership: "DeFi liquidity. CeFi experience. This is the killer app 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."
About Nexus Markets
Nexus Markets is a crypto exchange that was created within Shift Markets, an FX exchange software provider, for the past four years. The team has leveraged their network in FX and Crypto to build a best-in-class global crypto exchange whose trade volumes have increased 200% so far in 2021. The company continues to expand their products and have added 12 new white-label exchanges to their network since May in addition to locking in over $1mm in assets into their Vaults lending product. The company’s expansion into crypto borrowing and lending will continue to grow as they break down the global barriers that hold back clients across FX and Crypto.
Alkemi Network is bridging CeFi to DeFi, building an institution-grade liquidity network for financial institutions and individuals to access professional DeFi and earn yields on their Ethereum-based digital assets. The flagship protocol, Alkemi Earn (Earn) currently facilitates borrowing and lending within a compliant environment via a primary ‘permissioned’ liquidity pool of digital assets (ETH, WBTC and stablecoins). Earn will also offer access to a secondary, ‘permissionless’ liquidity pool of digital assets as part of Alkemi’s mission to enable everyone to join the decentralized financial ecosystem.
Media Contact: Matthew Struble
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