Nexo Relaunches US Crypto Platform, Partners with Bakkt
Nexo will resume US services on Monday, reintroducing flexible and fixed-term yield, a spot exchange, and crypto-backed credit lines. The rollout is executed through US-licensed partners, with Bakkt providing the trading stack and an SEC-registered investment adviser handling regulated advisory functions.
This comeback follows more than three years away from the US market after friction with federal and state regulators. Nexo’s earlier interest-bearing product drew enforcement attention, culminating in significant settlements and a halt of that offering for US customers.
The company frames the relaunch as enabled by clearer regulatory signals at the federal level and a changed enforcement climate under the current SEC leadership. Operational control will be anchored in Florida under a new local management team to be disclosed before or at launch.
Nexo first telegraphed a US return during an April 2025 event that included a high-profile speaker, signaling a strategic push to regain retail and institutional market share. The platform’s consumer-facing features now combine trading, lending, and a loyalty scheme aimed at rebuilding user trust and product uptake.
Washington’s legislative process remains unsettled, however, with the House-passed CLARITY Act stalled in the Senate and stablecoin provisions still unresolved. The relaunch therefore relies on compliance through partner firms rather than unilateral product design changes at Nexo’s corporate level.
Near-term risks include state-level enforcement actions and political friction if federal lawmaking stalls before the midterm elections. Nexo mitigates regulatory exposure by running regulated services through licensed US entities and by adhering to supervisory frameworks imposed by partners.
Key historical financial impacts that shape the relaunch strategy include an earlier $45 million settlement with the SEC and a $22.5 million multi-state agreement tied to its prior interest product. A separate California penalty of $500,000 further factors into compliance planning and product packaging.
For customers, the relaunch restores access to interest-style yield programs only where permitted through partner structures, and it reopens a pathway to crypto-backed lines of credit. Institutional counterparties should note the platform’s reliance on Bakkt for clearing and execution services.
Strategically, the move signals renewed confidence in the US regulatory trajectory and a preference for operating through licensed intermediaries. Market participants will watch user onboarding rates and product approvals for clues about wider industry regulatory acceptance.
Metrics to monitor in the coming quarters include customer inflows, traded volume on the Bakkt-powered exchange, and any incremental state enforcement fines or settlements. Those indicators will determine whether Nexo’s partner-first model scales inside the current US compliance environment.
- SEC settlement: $45,000,000
- Multi-state settlement: $22,500,000
- California fine: $500,000
- Time out of US market: approximately 3 years
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