Crypto Exchange Nexo Adds Support for Fantom’s $FTM Token

Announcements, News | January 27, 2022 By:

Layer-1 blockchain platform Fantom has announced that crypto platform Nexo will add support for Fantom’s native mainnet token, FTM.

Nexo is a regulated financial institution for digital assets with $4 billion in assets under management. The company offers tax-efficient ‘Instant Crypto Credit Lines, high-yield ‘Earn Interest’ products and ‘Send & Pay’ capabilities for clients to maximize the value of cryptocurrencies, while ensuring $100 million custodial insurance and military-grade security of the Nexo Wallet. Nexo claims to have processed more than $3 billion in 40+ fiat currencies for 800,000+ users across more than 200 jurisdictions.

In line with the listing, Nexo’s Now, 3+ million users will now have the ability to interact with Fantom’s FTM token, and benefit from Nexo’s high-level security.

According to Fantom, the listing on Nexo will unlock a number of unique features, including the ability to borrow against Fantom starting at 0% APR and the potential to earn up to 18% APR on Fantom. It will aslo enable users to buy Fantom and swap for other assets on Nexo.

“For both retail users and corporate clients, Nexo plays an essential role in bridging the worlds of banking and crypto,” said Fantom CEO Michael Kong. “But even more, as they innovate in that space, they’ve succeeded in outperforming banks in customer support and services. We are thrilled to be working and community-building with them.”