Oxygen has announced the launch of the world’s first decentralized CryptoRepo trading platform. Oxygen integrates repo, an essential building block for liquid and efficient financial markets, into the crypto economy. The platform will provide crypto asset holders opportunities to earn additional income, raise liquidity and take investment views across a wide range of cryptocurrencies, coins and tokens.
In а CryptoRepo transaction, one party borrows crypto assets from another party and commits to return these assets with interest at a future date. The Borrower provides crypto assets to the Lender as collateral, creating a secured digital transaction using an Ethereum-based Smart Contract.
Oxygen was created by the founders of Changelly, a market leader in instant cryptocurrency exchange services with over 1.6 million users, and a team headed by CEO Alex Grebnev. Alex is an experienced financial markets professional who has held senior leadership roles at Bank of America Merrill Lynch and Goldman Sachs.
Grebnev says: “In mainstream repo markets, the dominant players are banks, hedge funds, pension funds, insurance companies and other big institutions. The leveraging of decentralized exchange technology (DEX) by Oxygen will enable all market participants to benefit from CryptoRepo — from individuals to institutions, providing them with the means to make their crypto assets work harder. I’m excited about the opportunity to bring my investment banking experience into the new realm of crypto assets.”