Nexo Returns to US Market with Regulated Products
Digital asset platform Nexo is re-entering the U.S. market after a three-year hiatus, launching regulated yield accounts, credit lines, and exchange services.
Digital asset institution Nexo has announced its strategic re-entry into the United States market, marking a significant shift after its departure three years ago. This move aims to re-establish a presence by offering a suite of regulated financial products designed for the U.S. consumer base.
The newly launched services include regulated yield accounts, which will allow users to earn interest on their digital assets. Additionally, Nexo is reintroducing credit lines, providing users with the ability to borrow against their crypto holdings. These offerings are designed to comply with current regulatory frameworks within the United States.
Furthermore, the platform will reinstate exchange access, enabling U.S. customers to buy, sell, and trade a variety of cryptocurrencies. These services are fortified by a partnership with Bakkt, a digital asset marketplace, ensuring a compliant and secure trading environment for users.
Nexo's initial exit from the U.S. market was prompted by regulatory uncertainties and a challenging operating landscape. The company's return signifies a strategic recalibration, focusing on compliance and regulated product offerings to navigate the evolving U.S. regulatory environment for digital assets.
Originally reported by CoinDesk.