Nexo (NEXO) is talking about him but, in a less bellicose context. We remember the DeFi war between Nexo and Chainlink (LINK). Litecoin (LTC) and Nexo forge a partnership that could bring great innovations in the field of lending and borrowing in the cryptosphere.
2 DeFi skeptical to challenge DeFi
Nexo and Litecoin have entered into a partnership whose goal is to promote the adoption of blockchain and cryptocurrencies by the general public, by creating a new digital financial system.
Litecoin was added as collateral on the platform of Nexo in 2019: users could be remunerated up to 5 to 10% in Litecoin thanks to the program ” Earn in Crypto and Fiat “.
Nexo also collaborates with Tron (TRX), Chainlink and Huobi (HT). According to the co-founder of Nexo, Antoni Trenchev, this partnership is a way to formalize the long-standing relationship between Nexo and Litecoin.
Nexo seems to be part of a minority unconvinced by DeFi, just like his partner Litecoin, this therefore explains that.
Nevertheless, the founder of Litecoin, Charlie lee, believes that this collaboration marks the starting point for new innovations in the market, especially in the DeFi-dominated lending and borrowing sector.
2 old men together
Nexo is one of the largest financial institutions dedicated to digital assets and cryptocurrencies.
The information published on the website of Nexo indicate a firm that has been active for nearly 13 years, whose crypto activities began in 2018.
Nexo Today it has 800,000 users, 100,000 subscribers on social networks and is available in nearly 200 jurisdictions: the firm has processed approximately $ 3 billion in transactions over the past 2 years.
Litecoin is one of the oldest cryptocurrencies on the market, just like Bitcoin (BTC); its market capitalization is valued at $ 3 billion.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.
The pooling of Litecoin and Nexo experiences is an important resource for releasing new innovative toys that will appeal to cryptophiles. The 2 actors have had a good relationship for a while, which should facilitate the creation of a positive synergy within the framework of this partnership. We are waiting for the fallout, at least if there is a concrete follow-up; and that we do not cut another copy and paste of an existing product, with just a new brand as an innovation.
Litecoin, welcome in the Silver Age