Nexo is relaunching its digital asset services and cryptocurrency exchange platform in the United States, Cointelegraph reported on Feb. 16 local time.
Nexo, which withdrew from the United States three years ago amid clashes with U.S. financial authorities, decided to return after judging that the regulatory environment had improved.
Nexo plans to offer a spot cryptocurrency exchange, crypto-backed loans and a loyalty programme. U.S. digital asset platform Bakkt will support its trading infrastructure. Nexo's U.S. operations will be based in Florida, and its management team will be announced soon.
Nexo withdrew from the U.S. market in December 2022. After its Nexo Crypto Earn programme was deemed an unregistered security, Nexo paid a $45 million fine and later paid $22.5 million in settlements with 22 states.
Chi-gyu Hwang
delight@d-today.co.kr