Cryptocurrency lender Nexo expands its services to spot, futures, and margin trading.
Nexo, a New Jersey-based cryptocurrency lender established in 2017, has announced the launch of its spot, futures, and margin trading platform called Nexo Pro.
According to the press release, Nexo Pro will function as a gateway for crypto finances involving the best crypto and derivatives markets with availability to Earn, Borrow, and the Nexo Card.
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The Nexo Pro will allow users to connect to more than 3,000 order books and around 10 liquidity providers. The company claims that the platform will automatically suggest the best prices and the most efficient order executions.
Nexo’s VP of Product Development, Yasen Yankov, claims that Nexo Pro aims to provide the best trading price, near-zero slippage, the tightest ask spread, and automated time-weighted average price (TWAP).
Nexo Pro is the result of a long exploration in the world of retail and institutional trading. We are now passing this most advanced trading performance to our 5M+ customers at near zero cost and are set to revolutionise retail trading globally,” said Yasen Yankov, Nexo’s VP of Product Development.
The new platform will provide customers access to “institutional-grade aggregation liquidity.” Based on the press release, there are no minimum funding requirements, and already existing Nexo clients will receive a 50% discount on standard fees.
Co-founder and Executive Chairman of Nexo Kosta Kantchev, when talking about the release, noted:
We expect Nexo Pro to quickly become the first choice for those striving to outperform the average trader, and do so in the most secure way.
The Nexo Pro is available through a single intuitive interface, representational state transfer (REST), and WebSocket APIs. The company notes that in the beginning, the platform will be available only on a desktop. However, it will soon appear on mobile as a Nexo Pro app.
The company has been fairly active in launching new products in 2022. Nexo has rolled out its crypto-backed card Nexo Card in collaboration with Mastercard and DiPocket. Moreover, the company launched its “institutional-grade trading and custody platform Nexo Prime.”