Nexo Relaunches Compliant Services in US

Nexo, a global digital asset platform, announced its return to the United States market on Monday, more than three years after withdrawing amid regulatory disputes. The relaunch introduces a suite of compliant cryptocurrency services for U.S. users, including flexible and fixed-term yield programs, a spot exchange, crypto-backed credit lines, and a loyalty program. Operations will be based in Florida, supported by a yet-to-be-announced management team, and powered by trading infrastructure from Bakkt, a U.S.-based digital asset firm focused on institutional clients.

The platform's reentry follows a period of regulatory recalibration. Nexo exited the U.S. in late 2022, citing an "impossible environment" after extended negotiations with state and federal regulators failed to resolve concerns over its Earn Interest program, which allowed users to earn yields on crypto holdings. The company described the regulatory landscape at the time as a "dead end," particularly under the leadership of former Securities and Exchange Commission Chair Gary Gensler. In January 2023, Nexo settled with the SEC for $45 million over allegations that the program operated as an unregistered securities...