neonewstoday.com
Nash is seeking to add new market pairings in 2021 while pivoting to traditional financial and non-custodial blockchain services. In a recent Nash Community AMA, head of global business development, Kellogg Fairbank, discussed the logic behind the pivot and Nash’s path to growth.
In Feb. 2021, Nash announced a shift in focus to offer hybrid traditional banking and cryptocurrency-enabled services. Its new products will include:
- Fiat-based checking accounts.
- High-yield savings accounts powered by DeFi.
- A cryptocurrency-backed debit card.
Nash plans to roll out the new offerings over the course of 2021, while continuing to maintain its non-custodial exchange. This year, the team is targeting the listing of ten new coins. Fairbank said,
We are looking both for popular coins and projects that are interested in integrating our gateway into their platform, giving Nash more exposure. There is a lot of overlap between these categories… Our [layer two] exchange is not going away any time soon, especially because it’s baked into the NEX token payout mechanism.
Alongside current staking rewards, NEX token holders will receive USDC distributions from Nash’s new revenue streams.
However, Fairbank alluded to the ground the team must cover to grow in this market. For example, Nash will conduct a Series A fundraise, with a primary goal of expanding into new geographic jurisdictions.
Fairbank also acknowledged the jurisdictions that currently have limited Nash features (i.e., trading) available to them. He said, “All the regions where staking is possible, but not trading, are on our to-do list. However, they require more licenses, [which] won’t come until 2022 at the earliest.”
In the meantime, Nash intends to launch an affiliates program in Q2 2021, aimed at growing the user base and increasing volume on the Nash platform. The team will release more information about the new affiliate program soon.
Ultimately, Fairbank said: “Our vision for Nash is to become a household name: a new kind of banking platform that is also the best place for users to invest in crypto and take advantage of DeFi… We’re moving fast and building solid foundations for serious growth.”
The full AMA can be found at the link below:
https://community.nash.io/t/q1-2021-quarterly-ama/13322/79