Nexo Returns to U.S. Market With Bakkt Partnership

By: Eva Baxter

Nexo, a prominent crypto services platform, is making a comeback in the United States market after a prolonged absence due to regulatory challenges. The company originally exited the U.S. in 2022, largely due to what it described as unfriendly regulatory landscapes across federal and state jurisdictions. Now, with the advent of more favorable regulatory conditions, Nexo is set to relaunch its services with enhanced offerings.

Scheduled for a relaunch on a Monday, the newly revamped Nexo platform is poised to offer a range of sophisticated digital asset services specifically tailored to U.S. clients. These offerings include flexible and fixed-term yield programs, a spot cryptocurrency exchange, and crypto-backed credit lines. As part of its efforts to appeal to users, Nexo has also introduced a loyalty program. All these services aim to provide a seamless user experience and are powered by technical infrastructure from Bakkt, a U.S.-based digital asset platform. Bakkt is renowned for its focus on institutional clients and offers a robust trading infrastructure, lending credibility and reliability to Nexo's operations.

Nexo's strategic partnership with Bakkt marks a significant step in its ambition to capture the U.S. digital asset market. This move is anticipated to not just cater to individual consumers but also align with institutional needs. This development comes nearly three years after Nexo settled with the U.S. Securities and Exchange Commission (SEC) over its lending products, which had previously come under scrutiny under the watch of SEC Chair Gary Gensler. Now, with clearer regulatory guidance, Nexo aspires to rebuild its presence, foster trust, and contribute to the evolving landscape of digital financial services in the United States.

For users and stakeholders in the digital asset space, Nexo's return symbolizes both a new chapter for the company and a reflection of evolving regulatory environments that are now more accommodating for digital financial services. With Bakkt's institutional-grade infrastructure, Nexo is well-positioned to offer robust and legally compliant services, potentially setting a new standard for crypto enterprises operating in complex regulatory landscapes. Interested users are encouraged to explore Nexo’s offerings through their official channels for more information.