Nexo and Litecoin have signed a partnership that aims to increase the adoption of cryptocurrencies and blockchain.
Nexo is one of the world’s leading financial institutions dedicated to digital assets, while Litecoin is one of the longest-lived cryptocurrencies after Bitcoin, with a market capitalization of 3 billion. By joining together they aim to create a more fair financial market.
Nexo has the capacity to achieve this goal, given the size of its activities. As the official website reports, Nexo boasts:
- $3 billion of transactions over two years,
- 800,000 users,
- 13 years of activity,
- 40 fiat currencies available,
- Availability in 200 jurisdictions,
- 100,000 followers on its social media.
Active for 13 years, since 2018 Nexo has been orientating itself in bringing professional banking services into the cryptocurrency world, using blockchain technology.
This is what is enabling it to create what it calls “a new digital financial system” that will also revolutionize the world of lending. A sector where, to tell the truth, the use of DeFi is growing.
It is no coincidence that Nexo has entered into a partnership with a blockchain that doesn’t seem to be very interested in decentralized finance at the moment.
Nexo and Litecoin, in partnership since 2019
Litecoin was actually added as a collateral to Nexo as early as 2019. Since then users could earn between 5 and 10% interest on Litecoin by joining the “Earn in Crypto & Fiat” programme.
Nexo itself has existing partnerships with Tron, Chainlink and Huobi in the crypto sector.
With Litecoin, Nexo wants to expand further and build a stronger and more sustainable ecosystem.
Antoni Trenchev, Co-founder and Managing Partner of Nexo said:
“We are honored to officialize our work with the Litecoin Foundation after a successful history together. LTC is among the oldest digital currencies — a ‘heritage brand’ in crypto, as it were, so we are very excited to be part of its future growth”.
Litecoin’s creator and CEO of the Litecoin Foundation, Charlie Lee added:
“We are excited to give adopters more ways to grow their Litecoin holdings. We look forward to working with Nexo and see this as a starting point for innovation for the future”.