Crypto lender Nexo is returning to the U.S. market, nearly two years after suspending services for American customers amid regulatory scrutiny over its Earn Interest Product.
The Switzerland-based digital asset wealth platform announced the move at a closed-door business event, describing it as the beginning of a new phase shaped by what company leadership views as a more favorable regulatory landscape under Donald Trumpโs administration.
Sponsored
With $11 billion in assets under management, Nexo said it plans to resume a full range of services for both retail and institutional clients. These include crypto savings accounts offering interest, asset-backed credit lines, and trading and liquidity solutions.
“Nexo is returning to America โ stronger, smarter, and determined to win,” said co-founder Antoni Trenchev, speaking at the event alongside Donald Trump Jr., Executive Vice President of The Trump Organization.
Nexoโs return to the U.S. comes as the Securities and Exchange Commission (SEC) appears to be adopting a more lenient stance on crypto, suggesting a potential shift in the regulation of digital assets in the country.
Nexo Left U.S. Amid Regulatory Pressure
Nexo exited the U.S. market in 2022 as centralized crypto lenders, including BlockFi, Celsius, and Voyager, collapsed into bankruptcy.
The company cited pressure from multiple federal agencies, including the Consumer Financial Protection Bureau and the Securities and Exchange Commission, which accused company of
offering interest-earning accounts to investors without registering them as securities.
Operations in the U.S. officially ended in December 2022. A month later, Nexo agreed to a $45 million settlement with regulators without admitting wrongdoing.
On the Flipside
- Nexo is facing growing competition in the U.S. market, as other platforms are actively offering crypto lending services to customers.
Why This Matters
Nexoโs re-entry marks a pivotal moment for crypto lending in the U.S., as increasing competition and regulatory shifts shape the industryโs landscape.
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