Nexo relaunches US crypto platform

Nexo is relaunching its digital asset services and exchange platform in the United States, more than three years after exiting the market amid regulatory clashes.

The company said it is returning due to improved regulatory clarity and will offer flexible and fixed-term yield programmes, a spot cryptocurrency exchange, crypto-backed credit lines and a loyalty scheme for US users.

“Nexo’s US offering is structured through partnerships with appropriately licensed US service providers,”

Said Eleonor Genova, Nexo’s head of communications, adding that certain services will be delivered via a third-party SEC-registered investment adviser.

Trading infrastructure will be provided by Bakkt, and the new US operations will be headquartered in Florida under a management team yet to be announced.

Nexo exited the US in December 2022, citing what it described as a hostile regulatory environment under then-SEC chair Gary Gensler following prolonged discussions with federal and state regulators.

In January 2023, the company agreed to a $45 million settlement with the US Securities and Exchange Commission over its interest-bearing Crypto Earn product, alongside a $22.5 million multi-state securities settlement.

The re-entry comes as US lawmakers debate the stalled CLARITY Act and broader crypto market structure reforms, with the White House and industry representatives continuing discussions over stablecoin provisions and regulatory oversight.

At the time of reporting, Nexo price was $0.8924.