Nexo believes that in the long run, regulation will help crypto more than hurt.
While decentralized finance has stolen the show with big-number
headlines over the past year — the closely-watched Total Value Locked
(TVL) figure notably growing nearly 800%, rising from $20 billion at the
start of 2021 to $157 billion at May peaks — centralized crypto
financial services have likewise enjoyed explosive growth.
According
to Kalin Metodiev, CFA and co-founder at Nexo, the crypto savings
account company has grown fourfold to $15 billion in AUM, expanded to
1.7 million clients, and has new features like asset swap functionality
built into the platform coming down the pipe.
Nexo and
Cointelegraph only crossed paths briefly in Miami via a short
conversation in the Nexo-sponsored Bitcoin Art Gallery — one of the
highlights of the conference hall. However, we caught up with Metodiev
for a written interview shortly after the madness ended to talk over key
metrics climbing, the risks DeFi poses to Nexo’s model, and a path
forward for institutional adoption.
Adapting to Defi
When it comes to DeFi’s rise, Metodiev sees a
clear ceiling in terms of the heights it can reach due to some of its
core, permissionless features.
“We are intrigued by the
opportunities the DeFi space may offer and find merit in the notions of
automation and decentralization,” he said. “However, this is a space
that needs to align with institutional policies and standards in order
to survive and thrive on a large scale in the long term. Nexo operates
in accordance with formal AML/KYC guidance and compliance protocols,
which are not currently adopted by the DeFi space.”
source link : https://cointelegraph.com/news/nexo-in-miami-crypto-interest-account-giant-talks-defi-institutional-adoption
