Crypto Interest Account Giant Talks DeFi, Institutional Launch

While decentralized funding stole the show with numerous headlines over the past year – the closely watched Total Value Locked (TVL) number rose sharply by nearly 800%, rising from $ 20 billion in early 2021 to $ 157 billion Dollars to peak in May – centralized crypto financial services have also seen explosive growth.

According to Kalin Metodiev, CFA and co-founder of Nexo, the crypto savings account company has quadrupled to $ 15 billion in AUM, expanded to 1.7 million customers, and has new features like asset swap functionality coming into the coming Platform are integrated.

Nexo and Cointelegraph only met briefly in Miami over a brief chat in the Nexo-sponsored Bitcoin Art Gallery – one of the highlights of the conference room. However, we met Metodiev for a written interview shortly after the madness ended to talk about the rise in key metrics, DeFi’s risks to the Nexo model, and the path to institutional adoption.

Adaptation to defi

When it comes to DeFi’s rise, Metodiev sees a clear upper limit on the heights it can reach due to some of its key, permissionless features.

“We are fascinated by the possibilities that the DeFi room can offer and find advantages in the terms automation and decentralization,” he said. “However, this is a space that must be aligned with institutional guidelines and standards in order to survive and thrive on a large scale over the long term. Nexo works in accordance with the formal AML / KYC guidelines and compliance protocols, which are not currently being adopted by the DeFi space. “