Nexo, a leading crypto lender, is re-entering the US market after a two-year hiatus, citing a more favorable environment for innovation under the Trump administration. With $11 billion in assets and full range of services to offer, Nexo aims to capitalize on the growing demand for digital asset solutions.
Crypto lender Nexo is reentering the U.S. market after a two-year hiatus caused by regulatory challenges. The company’s decision to return is attributed to a more favorable environment for innovation under the Trump administration.
Nexo is a digital asset platform that offers users the ability to borrow money against their cryptocurrencies.
Founded in 2018, Nexo allows users to lend or borrow various cryptocurrencies such as 'Bitcoin' and 'Ethereum'.
The platform also provides a range of financial services including interest-bearing accounts and credit lines.
With over $1 billion in assets under management, Nexo has gained popularity among cryptocurrency investors seeking alternative lending options.
Co-founder Antoni Trenchev attributes the move to a renewed optimism in the crypto space, citing President Donald J. Trump’s vision and leadership as key factors. ‘America is back and so is Nexo,’ he stated during a press event in Bulgaria with Donald Trump Jr.
Nexo now manages $11 billion in assets and will offer its full range of services to U.S. clients, including high-yield savings products, asset-backed credit lines, and advanced trading solutions. The company’s Earn Interest Product was at the center of regulatory challenges in 2022, leading to its withdrawal from the U.S. market.
In late 2022, Nexo withdrew from the U.S. due to ‘impossible environment‘ caused by multiple enforcement actions, including those from California and New York. The company cited the collapse of crypto exchange FTX as a contributing factor, which led to a wider crackdown on crypto lenders.
Nexo is now relaunching with full services for retail and institutional clients. The company’s decision marks a significant comeback after two years away from the U.S. market. With its renewed optimism and favorable regulatory environment, Nexo aims to capitalize on the growing demand for digital asset solutions in the United States.
Nexo will now offer its full suite of services to U.S. clients, including high-yield savings products, asset-backed credit lines, and advanced trading solutions. The company’s assets have grown to $11 billion, providing a solid foundation for its expansion into the U.S. market.
