Crypto Bank Nexo Lists Polkadot, Allows Users to Earn 8% APY


Integrated Next Crypto Bank Peas (CRYPTO: DOT), with support to buy, sell, earn interest, or borrow against the coin.

What happened: According to an announcement shared with Benzinga, Nexo customers will be able to earn up to 8% interest and borrow against DOT at just 6.9% APR within the platform.

Adding Polkadot to the ecosystem would be a direct response to frequent customer inquiries.

Nexo now supports 19 different digital assets and plans to add more in the coming weeks.

In addition, the crypto-bank announced a cashback of 0.5% every time a user purchases Polkadot on the platform until June 29.

What else: Nexo is a financial technology startup that allows its users to earn up to 12% on their digital asset deposits as well as borrow and trade between different cryptocurrencies.

The company also offers its customers a dedicated payment card that allows them to spend their crypto without having to first exchange it for fiat currency.

Polkadot is an interoperability layer intended to enable the transfer of data and assets between blockchains in what the team calls an interconnected “internet of blockchains”.

The project is funded by the Web3 Foundation, which commissioned five teams and more than 100 developers to build it.

Price action: According to CoinMarketCap The data, Polkadot’s is up about 5.27% in the past 24 hours, and was trading at $ 16.40 at time of publication.

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