Crypto lenders are the institutions situated between consumers and the untamed, blockchain-based, and often unregulated space of cryptocurrencies. As such, they are in a peculiar position when it comes to responsibility towards their customers and the assets for which they provide services. Consequently, when choosing which currencies to support, lenders lead a delicate dance of responsibility, a balancing act between catering to popular demand and adding cryptocurrencies that are sustainable, worthwhile and safe.
It’s unsurprising that in a nascent industry full of new investors, a lender’s asset integration is often taken for endorsement. What tends to be overlooked when companies add new assets to their range of services is that crypto lending is, in fact, a business, and any asset integration is ultimately a response to demand — a good market opportunity that generates gains for business and clients, alike. Perhaps this is due to lenders being influential entities in a space that has historically lacked the institutional stamp of approval and looks for it through the pioneering businesses shaping the industry.
Magdalena Hristova is a public relations manager at Nexo. With her penchant for writing and natural curiosity towards anything technically complex and equipped to cause ripples in incumbent industries, she began working as a copywriter in the crypto industry before migrating into the novel space of communications in crypto.
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