Crypto lender Nexo is making its way back into the U.S. market after a two-year exit that was prompted by regulatory challenges.
“America is back and so is Nexo,” stated Co-founder Antoni Trenchev during a press briefing on Sunday in Bulgaria, alongside Donald Trump Jr. He credited the renewed optimism for innovation to the Trump administration.
Key Points:
- Return to Market: Nexo is reentering the U.S. following a departure due to regulatory scrutiny.
- Optimistic Environment: Trenchev mentioned that the business landscape has become more encouraging under Trump’s leadership.
- Service Expansion: The firm, currently managing $11 billion in assets, plans to provide full services to U.S. clients, which includes high-yield savings and credit options.
The company aims to reconnect with clients by offering a full suite of financial solutions, asserting that the U.S. remains a central hub for innovation. Previously, Nexo had withdrawn from the U.S. in late 2022 after facing a standstill in discussions with regulators regarding its products.
“Thanks to the vision and leadership of President Donald J. Trump and his administration, the United States is once again a place where innovation is championed, not stifled,” Trenchev noted.
Furthermore, Nexo had cited an “impossible environment” for continuing operations in the U.S. due to escalating enforcement actions from states like California and New York. Following the collapse of crypto exchange FTX, the regulatory landscape became even more complex.
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