Nexo Returns to U.S. Market After Two-Year Regulatory Hiatus

Crypto lender Nexo is reentering the U.S. market after a two-year absence driven by regulatory challenges. Speaking at a press event in Bulgaria alongside Donald Trump Jr., Nexo Co-founder Antoni Trenchev announced the company's comeback, crediting a more favorable environment for innovation under the Trump presidency. "America is back and so is Nexo," Trenchev declared, emphasizing that the United States is once again a place where pioneers are supported, not restricted.

Nexo, which now manages $11 billion in assets, plans to offer its full range of services to U.S. retail and institutional clients. These services include high-yield crypto savings accounts, asset-backed credit lines, and advanced trading solutions.

The firm exited the U.S. in late 2022 following failed negotiations with state and federal regulators over its Earn Interest Product. Its departure was also influenced by broader market turmoil triggered by the collapse of crypto exchange FTX and an intensified regulatory crackdown on crypto lenders. At the time, Nexo cited an "impossible environment" to continue operations, referencing enforcement actions from states like California and New York.

Now, with what it describes as renewed political support for blockchain innovation, Nexo is positioning itself to reclaim a leading role in the American crypto lending industry.