Tron gets a listing on the Nexo platform as TRX-Backed Fiat loans become the first of its kind

• Nexo recently announced that it has teamed up with Tron to list its native token to its system. 
• This will provide the first ever Tron backed Fiat loans. 

Nexo, one of the biggest regulated financial institutions for cryptocurrencies, has recently announced this week that it has teamed up with the Tron foundation in order to list its native token to its system. This will provide the first ever Tron backed Fiat loans. 

The co-founder and managing partner at Nexo, Antoni Trenchev, said the following on the matter.

“When blending elements from DeFi into CeFi you get the best of both worlds. TRON’s blockchain technology enables developers to create smart contracts and decentralized applications (DApps), displaying how the TRX integration is yet another step towards the Defi-enhanced centralized finance model Nexo is pursuing.”

Cryptocurrency adoption seems to be on the rise at the moment so this partnership is bullish news to add to that.

Holders of the Tron token have been reassured that their tokens will have value due to his healthy market utilities. When it comes to the partnership in question though, users of Tron are set to reap the benefits as there are many positives coming alongside this collaboration.

The co-founder and CEO of Tron, Justin Sun has said that they support Nexo’s vision for blockchain technology and exploration.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!