Nexo returns to U.S. market

SOFIA (Bulgaria), April 28 (SeeNews) - Bulgarian-founded digital assets wealth platform Nexo said on Monday that it is returning to the U.S. market.The company’s re-entry into the U.S. market comes amid renewed optimism and entrepreneurial momentum, positioning it to offer its full suite of digital asset products to U.S. clients, Nexo said in a statement.Retail and institutional clients will gain access to Nexo’s core offerings, including high-yield crypto savings accounts, asset-backed credit lines, advanced trading and institutional-grade liquidity solutions."Nexo is returning to America - stronger, smarter, and determined to win," the company's co-founder Antoni Trenchev said.Nexo's return comes after its decision to phase out its products and services in the U.S. over regulatory issues in late 2022. In January 2023, its unit Nexo Capital Inc agreed to pay $45 million (39.6 million euro) to the U.S. Securities and Exchange Commission (SEC) and the U.S. regulators as a penalty for failing to register its crypto asset lending product.With $11 billion in assets under management, Nexo has processed transactions of over $320 billion since 2018.($ = 0.8805 euro)