Nexo Reenters U.S. Market After Two-Year Exit
Crypto lender Nexo is reentering the U.S. market after exiting two years ago due to regulatory issues. Key points include:
- Nexo's return was announced by Co-founder Antoni Trenchev at a press event in Bulgaria.
- The company credits a more favorable innovation environment under the Trump presidency for its comeback.
- Nexo is managing $11 billion in assets and will offer services such as high-yield savings products, asset-backed credit lines, and advanced trading solutions to U.S. clients.
- The firm left the U.S. in late 2022 after negotiations with regulators over its Earn Interest Product stalled.
- Nexo cited an "impossible environment" following enforcement actions from states like California and New York.