With the concentration of large amounts of money, the prying eyes of the world’s most capable hackers are always on the prize. This is true for Binance, this is true for Nexo, this is true for any blockchain company, dealing with customer funds.
And we all have to accept it as the new normal. I personally am glad that Binance have dedicated a fund to cover the losses of clients.
At Nexo, we have worked hard to ensure the safety of customers’ funds via our arrangement with BitGo and Lloyd’s of London to offer $100 million insurance on custodial assets.
It is only when blockchain companies can guarantee the security of the entrusted assets, that we can ask for large-scale adoption of crypto by regular people that are accustomed to the comfort of their bank accounts (for all the flaws they might have).
In an uncharacteristically uninformed rant, Warren Buffett has shown that when it comes to bitcoin and the blockchain, the technology that underpins cryptocurrencies, the world’s most famous investor hasn’t done his homework.
Don’t get me wrong — at Nexo, we are full of admiration for the Oracle of Omaha. We even benchmark our company’s relatively modest achievements against his. The 4.8% dividend yield of our eponymous token, NEXO, outperformed the yield of every dividend-bearing stock in Warren Buffett’s portfolio in the last 7 months of 2018.
But many of his claimsare just as widely held as they are misguided and…
Nexo’s Antoni Trenchevhad the pleasure to sit down with Bloomberg’s Caroline Hydeand Romaine Bostickand discuss the state of the blockchain space and why Wall Street finds Nexoextremely interesting as a means of generating superior returns in the current low interest rate environment.
Here are the key takeaways:
In a Nutshell: Powered by Credissimo, one of Europe’s leading FinTech companies, Nexo offers a new service in the world of cryptocurrencies: instant crypto-backed loans. With loans that are secured by their own cryptocurrency, Nexo users are able to utilize the value of their cryptocurrency holdings without actually having to sell them, which also avoids incurring any taxable events. All the while, if the cryptocurrency value appreciates, users see those benefits as well. Nexo’s process to sign up and receive a loan is simple and straightforward, with users accessing funds almost instantly. …
as published by FinTech Weekly
The Financial Stability Board, led by Bank of England governor Mark Carney, which makes recommendations to the G20, announced this week (Mon July 16) that it has put forward a framework for monitoring cryptocurrency assets. It has presented a list of metrics that the board says “should help to identify and mitigate risks to consumer and investor protection, market integrity, and potentially to financial stability”.
The monitoring efforts will focus on crypto assets’ price volatility, the size and growth of initial coin offerings (ICOs), crypto’s wider use in payments and institutional exposure, as well as…
by Crypto Rand
I could throw in a few punchlines in here to impress the audience but what it all ultimately comes down to is two things — hard work and a very clear vision for what we want to accomplish. The beauty of our model is its simplicity and efficacy of the execution. Secured lending is probably the second oldest profession in the world and is what we have been doing for over 10 years now with our other company — the leading European FinTech group Credissimo.
Managing Partner at Nexo- The World's First Instant Crypto Credit Lines