Share this article
Crypto Lender Nexo to Enter Prime Broker Race, Enlists Chainlink for Audits
Nexo is preparing to enter the prime brokerage space with Chainlink-powered audits that will bring more transparency to its operations.
Updated May 9, 2023, 3:09 a.m. Published Jul 8, 2020, 1:00 p.m.
Crypto lender Nexo is preparing to enter the prime brokerage space with help from Chainlink-powered audits to bring more transparency to its operations.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The Swiss lender announced an integration with the oracle provider on Wednesday. Chainlink will provide audit trails for Nexo’s lending and borrowing operations, revealing how the firm handles user collateral, Nexo CEO Atoni Trenchev said in an interview.
Read more: DeFi Driving Chainlink’s Link Token to Record Highs
In cases where interest paid on a loan is in a separate currency than what the loan is denominated in, Chainlink will provide an exchange rate for calculating interest payments. The Chainlink oracle protocol operates as a decentralized and transparent arbiter of asset prices, eliminating the possibility of a central point of failure.
Prime-broker plans
Nexo hopes this increased security will aid the company’s expansion into the prime brokerage business. The lender revealed in the same announcement it plans to build out a “complete prime brokerage product suite.” Earlier this year, Coinbase, Genesis Trading, Bequant and BitGo all announced plans to become prime brokers.
The news of Nexo’s brokerage plans comes following the company’s announcement in June that, like its competitors in the lending market, it was offering interest on crypto deposits.
Read more: Behind 'Prime Broker' Buzzword Lies a Complex Strategy Game for Crypto Firms
Nexo now offers 5% on bitcoin , bitcoin cash (BCH), ether , XRP, EOS, stellar (XLM) and , half of the 10% that Nexo users earn on fiat currencies and stablecoins like USDT, dai and PAX. The interest for the product gets deposited into customer accounts daily at 12:00 UTC (8 a.m. ET).
Trenchev said before launching interest on crypto, he waited until Nexo had found “proprietary, market-neutral” strategies for profiting from loan arbitrage, basis trading and other strategies.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Stablecoin Adoption Is ‘Exploding' — Here's Why Wall Street Is Going All-In
Alchemy co-founder and president Joe Lau said stablecoin adoption is exploding as banks, fintechs and payment platforms push beyond the USDT/USDC exchange era.
What to know:
- Stablecoin usage is quickly broadening from crypto-native exchanges into payments, payroll and treasury as companies chase 24/7, digital-native settlement, according to Alchemy Co-founder and President Joe Lau.
- Banks are pushing tokenized deposits as a regulated, bank-native alternative that delivers stablecoin-like benefits for institutional clients.
- The endgame is a two-track system — stablecoins for open, two-party settlement; deposit tokens for bank ecosystems, until scale forces convergence and competition, Lau said.
Top Stories
