Nexo Lists Tron, Creating the First-Ever TRX-Backed Fiat Loans

295
Nexo Lists Tron, Creating the First-Ever TRX-Backed Fiat Loans
Advertisement
   

The world’s leading regulated financial institution for digital assets, Nexo, has announced that it has partnered with Tron Foundation to list TRX in its system to provide the first-ever TRX-backed fiat loans.

“When blending elements from DeFi into CeFi you get the best of both worlds. TRON’s blockchain technology enables developers to create smart contracts and decentralized applications (DApps), displaying how the TRX integration is yet another step towards the Defi-enhanced centralized finance model Nexo is pursuing,” said Antoni Trenchev, Co-founder and Managing Partner of Nexo.

This comes at a time when global cryptocurrency adoption is on the rise, despite over 1000 coins out there competing for the same market.

Diversifying on coin utility is what will differentiate a successful and failed project after the anticipated wave. 

Thanks to the participants, TRX holders can be assured their token will have value due to its healthy market utility.

Advertisement
   

In regards to the partnership, TRON users are set to avail as there are benefits that come attached.

“We support Nexo’s vision for blockchain technology exploration in CeFi to DeFi,” said Justin Sun, Founder of TRON and CEO of BitTorrent. “Nexo and TRON marry desirable attributes from two different philosophies. Together, TRX users now enjoy attractive yields and faster transactions with secure infrastructure. Our mission is to bring blockchain to everyone and Nexo empowers our ability to do so.”


Get Daily Crypto News On Facebook | Twitter | Telegram | Instagram


DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.