Alkemi network, a platform that bridges CeFi and DeFi, has integrated with the crypto exchange and lending vault platform Nexus Markets. The aim of this is to provide Nexus users with DeFi-sourced vaults on a well-known exchange interface. Through Alkemi’s institutional-grade liquidity platform, Nexus Markets offers DeFi-level yields via its existent CeFi-based vaults. This brings together CeFi and DeFi in terms of accessibility and earning potential.
Notably, Nexus Markets users can earn passive income through their stablecoins and other crypto assets such as Ethereum and Wrapped Bitcoin. All they need to do is commit their liquidity to the DeFi vaults integrated with the Alkemi network.
The initiative to integrate the two players was meant to solve the issue of users who want to benefit from DeFi’s lucrative yields but are still skeptical about its lack of regulation. Typically, to profit from DeFi, users need to acquire knowledge on many complex ideologies and procedures. These include Web3 wallets, proper custody, gas prices, and approvals. The Alkemi-Nexus Markets integration simplifies the process by maintaining a familiar Web2 interface. The development also attracts potential users who place more trust in bank-grade compliant platforms.
Furthermore, the partnership lets Nexus clients take part in an institutional-grade liquidity mining program through the Alkemi network to earn DeFi rates. The trustworthy environment developed by the pair lets institutions and retailers safely lend their assets and earn yields both on and off-chain.
Brian Mahoney co-founder and CSO of the Alkemi network and Ian McAfee, the co-founder and CEO of Nexus Markets and Shift Markets both expressed their delight in the initiation of such a partnership.
Launched in April 2021, the Alkemi network strives to provide a way for institutional clients to adopt DeFi. For this reason, it has a number of necessary features including advanced reporting and permissionless pools with known counterparties. Its flagship protocol Alkemi Earn enables borrowing and lending within a compliant environment. As part of encouraging an all-inclusive DeFi ecosystem, Alkemi Earn will also grant access to a secondary, permissionless liquidity pool of digital assets at the network’s Token Generation Event.
Nexus Markets, on the other hand, was developed within Shift Markets, a four-year forex exchange software provider. The Nexus team leverages FX and crypto to develop a world-class worldwide crypto exchange platform. They are now breaking the barriers to entry for FX and crypto clients, thereby expanding their crypto borrowing and lending capability.