Alkemi Network, a relatively new project that aims at bridging CeFi to DeFi by building an institution-grade liquidity network that allows financial institutions and individuals to access professional DeFi and earn yields on their Ethereum-based digital assets, has just announced it has entered into a partnership with crypto exchange Nexus Markets, according to the press release shared with iHodl.
As a result of the cooperation, the cryptocurrency exchange will be able to offer its users DeFi-sourced vaults wrapped in a familiar-exchange interface.
Thanks to the use of Alkemi Network's platform, the users of crypto exchange Nexus Markets will be able to enjoy DeFi-level yields through its existing CeFi-based vaults. Users can now user their Ether, Wrapper Bitcoin and other stablecoins to make money in a passive way by committing their liquidity to the DeFi vaults which are integrated with Alkemi Network.
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The partnership between Alkemi Network and Nexus Markets enables users to access the attractive yields that can be found in DeFi without the need to learn about Web3 wallets, proper custody, gas prices, approvals, and many other complicated terms and procedures.
Brian Mahoney, CSO and co-founder of Alkemi Network, said on the partnership:
"DeFi liquidity, CeFi experience. This is the product-market fit driving the next wave of digital asset growth."
Ian McAfee, CEO and co-founder of Nexus Markets and Shift Markets, said about the partnership:
"Clients might be on an exchange, unsure about using Web3 browser wallets. We facilitate DeFi through a familiar interface, so customers can access this new technology and the yields natively."