The collaboration allows for a syndicated lending solution, which will help Nexo reach a growing user base of crypto miners utilizing BlockFills’ technology.
BlockFills on the other hand will benefit from the strategic access to Nexo Prime, a premium brokerage solution tailored to meet institutional investor needs.
Nexo and financial technology firm BlockFills have announced a strategic partnership that sees the regulated digital assets provider expand its brokerage services to crypto miners.
The announcement comes a few weeks after BlockFills secured $37 million in its Series funding, with Nexo as one of the investors.
Targeting BlockFills’ miner-rich client base
The partnership will see Nexo leverage the end-to-end digital asset solutions offered by BlockFills to roll out crypto services targeted at cryptocurrency miners. The collaboration allows Nexo to avail syndicated lending services via BlockFills’ software-as-a-service (SaaS) platform Phoenix.
This allows Nexo to tap into a miner-rich client base at BlockFills, using its own advanced financial tools to benefit the crypto mining community.
In addition to this, the partnership allows for the two firms, via Nexo Prime, to expand their business reach to institutional investors.
“Nexo’s collaboration with BlockFills is logical and synergistic,” said Tatiana Metodieva, the head of corporate finance and investments at Nexo.
“Our service offerings, geographic coverage, and addressable user bases complement each other; thus, our joint work will be conducive to the growth of our respective business operations in the digital assets industry,” she added.
‘Reliable trading opportunities’
Nick Hammer, co-founder and CEO of BlockFills said that the partnership allows both companies to offer their respective clients “reliable trading opportunities.”
Nexo’s partnership with BlockFills is yet another growth opportunity for the company as it seeks to increase its presence in the decentralized finance (DeFi) and the metaverse.
The firm’s Instant Crypto Credit Lines facility allows users to efficiently handle their crypto tax obligations while maximizing the value and utility of their holdings.
Apart from that, Nexo offers a high-yield Earn Crypto Interest suite, instant exchange, and over-the-counter (OTC) trading.
Nexo serves over 3 million users from across 200 jurisdictions.
The post Nexo partners BlockFills to bring Prime Brokerage services to crypto miners appeared first on Coin Journal.