tl;dr
Crypto lender Nexo has re-entered the U.S. market after leaving in 2022 due to regulatory challenges. Co-founder Antoni Trenchev credits the Trump administration for creating a more favorable environment for innovation. Nexo manages over $11 billion in assets and plans to offer U.S. clients its full...
Crypto lender Nexo has re-entered the U.S. market, crediting a more innovation-friendly environment under the Trump administration. Managing over $11 billion in assets, Nexo plans to offer its full suite of digital asset services to both retail and institutional clients across the U.S.
The company initially withdrew from the U.S. in 2022 due to regulatory challenges and turmoil in the crypto market, notably following the FTX collapse. Nexo described the previous U.S. regulatory environment as "impossible" to operate within, citing failed negotiations with state and federal regulators over its Earn Interest Product and multiple enforcement actions.
Co-founder Antoni Trenchev praised the Trump administration for creating a climate where innovation is championed, stating, "Thanks to the vision and leadership of President Donald J. Trump, his administration, and his family, the United States is once again a place where innovation is championed, not stifled."
Upon its return, Nexo unveiled a rebranding effort, transitioning from a crypto lender to "the first comprehensive and compliant digital assets wealth platform." This move is designed to appeal to independent and savvy investors by providing smarter, more flexible wealth growth options in the digital asset space.
Nexo’s offerings in the U.S. market will include high-yield savings products, asset-backed credit lines, and advanced trading solutions, aiming to create a compliant platform for digital asset wealth management and foster broader investor participation in crypto markets.