Nexo is of the opinion that the good side of crypto regulation will be felt in years to come.
Although much of the attention has been on DeFi since last year having risen its Total Locked Value from $20 billion to $157 billion in less than 6 months this year, there is still something to write home about centralized crypto this year.
Kalin Metodiev has given a breakdown of Nexo’s performance. According to him, their savings in crypto has increased by 300% in AUM while the number of clients has grown to 1.7 million people. They are also planning to modernize the platform to suit current needs.
Nexo had only a short time to spend with Cointelegraph during the Bitcoin Art Gallery event which it organized. Notwithstanding, Nexo felt the need to drop some vital information concerning its growth, how DeFi can affect it, and what it may take to be widely accepted in similar institutions.
Adjusting to DeFi
Although DeFi is growing now, Metodiev thinks it won’t last long because it has some permissionless ingredients.
The CFA stated later on that DeFi had a lot of grounds to conquer and that creating some automated features would be in the industry’s best interest. However, DeFi cannot work on its own as it needs institutions that make their own regulations. Nexo has not thrown away the AML/KYC strategies which others in DeFi community may now call old fashion.
Top of Form
The article posted herein is published by members of this site. Any information you find on this article is base on the opinion and view of the publisher. You are at liberty to accept or reject this article and act base on your own perspective of the platform. You are encouraged to share your own opinion or views about the platform with us via the comments box below so as to further improve this article.
Team Reviewparking is no third party and we can't handle any queries whatsoever.