Input Output Hong Kong, one of the companies behind the Cardano blockchain, is expanding the Cardano ecosystem through partnerships with Nexo, a cryptocurrency lending platform and decentralized finance liquidity aggregator Orion Protocol.
Fast facts
- Input Output Hong Kong is partnering with Nexo to integrate ADA — the native cryptocurrency of the Cardano blockchain — to the Nexo exchange, according to a recent blog post. Nexo users will be able to buy and sell ADA, earn up to 8% interest, and borrow against ADA from 6.9%. A full blockchain integration of Cardano on Nexo is under way.
- “Interoperability is essential to further mainstream adoption of blockchain and cryptocurrency and our partnership with Nexo is another step towards that journey,” said Romain Pellerin, chief technology officer at [Input Output Hong Kong]. “This partnership will not only allow ADA holders to manage their portfolio, but will let users purchase ADA directly with fiat or with crypto on the Nexo Exchange. Bringing Nexo into our growing ecosystem will give the Cardano community even more options and fluidity for ADA.”
- Input Output Hong Kong also announced that it was collaborating with DeFi liquidity aggregator Orion Protocol to integrate Cardano into its trading terminal and enable Cardano users to buy and sell crypto. This follows a partnership between Cardano and Chinese public blockchain Nervos to launch a cross-chain bridge to connect the two networks and allow users to transact using ADA and CKB — the respective native cryptocurrencies of the Cardano and Nervos blockchains.
- The partnerships come in the midst of Cardano’s three-phase Alonzo upgrade. The upgrade will bring smart-contract functionality to the blockchain and enable DeFi applications for the first time.