Crypto lender Nexo returns to the U.S. market nearly two years after suspending services for American customers

Crypto lender Nexo is returning to the U.S. market, nearly two years after suspending services for American customers amid regulatory scrutiny over its Earn Interest Product.

The Switzerland-based digital asset wealth platform announced the move at a closed-door business event, describing it as the beginning of a new phase shaped by what company leadership views as a more favorable regulatory landscape.

With $11 billion in assets under management, Nexo said it plans to resume a full range of services for both retail and institutional clients. These include crypto savings accounts offering interest, asset-backed credit lines, and trading and liquidity solutions.

“We are emerging from a period of rapid transformation with renewed optimism and entrepreneurial momentum to deliver our full products to American clients in a supportive environment,” said co-founder Antoni Trenchev, speaking at the event alongside Donald Trump Jr., Executive Vice President of The Trump Organization.

Rolling back the U.S. operations follows a tumultuous period for the crypto lender, which exited the market in 2022 as several centralized crypto lenders, including BlockFi, Celsius, and Voyager, went bankrupt.

The company cited pressure from multiple federal agencies, including the Consumer Financial Protection Bureau and the Securities and Exchange Commission, which accused the firm of offering interest-earning accounts to investors without registering them as securities.

Operations in the U.S. officially ended in December 2022. A month later, Nexo agreed to a $45 million settlement with regulators without admitting wrongdoing.

Why This Matters: Nexo’s re-entry marks a pivotal moment for crypto lending in the U.S., as increasing competition and regulatory shifts shape the industry’s landscape.