Nexo Returns to U.S. Market Via Partnership With Bakkt

The cryptocurrency company Nexo has officially returned to the United States, three years after making its exit. The firm is executing the relaunch in partnership with Bakkt, the next-generation digital financial infrastructure provider.

According to an official announcement on the Nexo website, the firm’s renewed presence in the U.S. will be shaped by regulatory clarity and institutional compliance. The company says it will prioritize resilience and risk management among both retail and institutional investors.

Nexo Returns to the U.S.

Bakkt will provide the trading infrastructure, which aligns with U.S. regulatory expectations and governance standards. Nexo said the latest development marks a significant milestone in its journey to building an infrastructure rooted in long-term value creation, innovation, and trust.

The relaunch is also a part of Nexo’s ongoing global expansion. The firm is joining forces with sports teams and acquiring firms to expand its footprint across regions. Just recently, Nexo signed a multi-year agreement to become the first-ever Title Partner of the ATP 500 Nexo Dallas Open.

Unveiling Regulatory-Compliant Services

It is worth noting that Nexo unofficially re-entered the U.S. last year at an exclusive business event attended by influential figures, including Donald Trump Jr., in attendance. The re-entrance had come 27 months after the company had exited the U.S. due to a lack of regulatory clarity.

Despite an 18-month dialogue with regulators, Nexo was asked to pay $45 million in fines to U.S. agencies in January 2023. The fines came at a time when U.S. agencies, led by the Securities and Exchange Commission (SEC), were cracking down heavily on crypto companies.

The crypto lender was ordered to cease its Earn Interest Product (EIP), which was in the form of a crypto lending account. The then-SEC chairman, Gary Gensler, insisted that Nexo failed to register the EIP properly, thereby putting investors at risk.

With Nexo officially re-entering the U.S. market, the firm has unveiled a suite of regulatory-compliant services and discontinued the EIP. A spokesperson confirmed this in a statement to Reuters. The new products include crypto-backed credit lines, an integrated exchange, a loyalty program, and flexible and fixed-term yield programs.

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