Crypto lender Nexo is making a return to the United States three years after withdrawing from the market amid mounting regulatory pressure and a $45 million settlement with U.S. authorities.
The company confirmed Monday that it has officially relaunched its U.S. operations in partnership with Bakkt, a publicly traded digital asset platform.
The move marks a significant reversal from 2022, when Nexo exited the country, citing an “impossible environment” following enforcement actions from both federal and state regulators.
Key Takeaways
- Nexo has officially relaunched in the U.S. three years after exiting due to regulatory disputes and a $45 million settlement with the U.S. Securities and Exchange Commission.
- The company’s new U.S. offerings—including yield accounts, crypto-backed credit lines, and trading services—are being rolled out through a compliance-focused structure in partnership with Bakkt.
- The return follows a shift in the regulatory climate under President Donald Trump, whose administration has taken a more crypto-friendly stance.
- Political ties involving co-founder Antoni Trenchev and members of the Trump family have drawn attention, though the company says they are unrelated to its U.S. relaunch.
A Compliance-Focused Comeback
Nexo’s earlier departure stemmed from clashes over its Earn Interest Product, which the U.S. Securities and Exchange Commission said should have been registered as a security. In 2023, Nexo agreed to pay $45 million to settle the charges without admitting or denying the regulator’s findings.
At the time, the firm discontinued the affected product for U.S. clients. According to a company spokesperson, that order has been fully addressed.
The company now says its revamped U.S. offerings are structured differently and delivered through licensed domestic partners.
The SEC declined to comment on the relaunch.
What Nexo Is Offering
Nexo’s U.S. product lineup includes fixed and flexible yield accounts, crypto-backed credit lines, and an integrated trading platform. Customers will also have access to fiat on- and off-ramps through ACH and wire transfers. The infrastructure powering these services is supported by Bakkt.
The firm says it returns with $11 billion in assets under management and has processed $371 billion in transactions globally to date. It describes the relaunch as the result of a “period of deliberate recalibration,” signaling a more cautious approach to regulated markets.
Nexo’s broader expansion strategy includes acquisitions such as Argentina-based Buenbit and sports sponsorships, including partnerships with the ATP Dallas Open and the Audi Revolut Formula 1 team.
Political Backdrop and Trump Connections
The relaunch comes against a shifting U.S. regulatory and political landscape. Nexo co-founder Antoni Trenchev has had visible interactions with members of the Trump family in recent months.
Trenchev reportedly attended a lunch with U.S. President Donald Trump at Trump’s Scottish golf resort last July, where Nexo sponsored a championship event. According to a social media post by Trenchev, discussions covered politics and a “joint vision for crypto in the U.S.”
Nexo also hosted Donald Trump Jr. at a “Trump Business Vision 2025” event in Sofia, Bulgaria, in April.
When asked whether those contacts influenced the company’s return, Nexo pushed back.
The company maintains that its reentry is based strictly on its ability to operate within a compliant framework.
The Trump Organization’s recent involvement in crypto through its venture, World Liberty Financial, has drawn scrutiny from ethics experts who argue there may be conflicts of interest as the administration shapes digital asset policy. The White House has denied any such conflict.
A Test Case for Crypto’s U.S. Reset
Nexo’s return may serve as a bellwether for other crypto firms that exited during the regulatory clampdown of 2022 and 2023. After years of enforcement actions targeting lending products and yield-bearing accounts, the company’s comeback suggests that at least some firms see clearer rules—or a more workable environment—under the current administration.
Whether regulators will maintain a lighter touch or revisit aggressive oversight remains uncertain. For now, Nexo is betting that a compliance-first structure and established U.S. partners will allow it to regain a foothold in one of the world’s most important crypto markets.
