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I just saw that Nexo is returning to the U.S. market after 3 years. The crypto lending platform had withdrawn in 2022 due to regulatory issues with its interest products, but it seems the crypto policy environment has improved quite a bit.
Now Nexo is relaunching quite comprehensive services: yield accounts, crypto-backed loans, an integrated exchange, and fiat gateways. All backed by Bakkt to comply with U.S. regulations. Interesting that they waited for the right moment to come back.
The truth is, Nexo manages around $11 billion in assets and has processed $371 billion globally. That’s no small feat. Do you think other projects will also try to re-enter the U.S. market with this new regulatory openness?