Kraken Opens Three NEXO Token Trading Pairs Across Its Platforms

Kraken opened trading in NEXO Token (NEXO) against the U.S. dollar and two stablecoins on Oct. 22, adding three markets on Kraken and Kraken Pro.

Customers can choose among NEXO/USD, NEXO/USDT and NEXO/USDC. The dollar market lets customers trade the token against fiat currency; the other two markets use stablecoins. The pairs are listed on Kraken’s main platform and Kraken Pro, its service for active traders.

Nexo and its token both date to 2018: the company began operating that year, and NEXO was launched then. The token is part of Nexo’s loyalty program, which offers benefits including reduced borrowing rates on crypto-backed loans and fee-free transfers. A customer’s tier depends partly on their NEXO holdings compared with the rest of their portfolio on the platform.