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.
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.”
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