After nearly three years of leaving the US market due to a harsh legal environment, Nexo - one of the largest crypto lending platforms in the world - has officially announced its return to the United States. This move is driven by significant policy changes related to crypto under President Donald Trump.
Nexo reopens in the US
Having withdrawn from the US at the end of 2022 due to clashes with regulators, Nexo is now confidently returning with ambitions to serve both retail and institutional clients in the country. The company stated that they are managing over 11 billion USD in assets and will bring a comprehensive ecosystem of services, including:
High-yield savings products.
Loans secured by digital assets.
Advanced digital asset trading solutions.
According to co-founder Antoni Trenchev, the gradual transformation of the US into a "more innovation-friendly environment" under Trump is the main reason driving Nexo's return.
Speaking at a press event in Bulgaria, where he stood alongside Donald Trump Jr. - the President's son, Trenchev emphasized:
"Thanks to the vision and leadership of President Donald J. Trump, the United States is once again a land where innovation is celebrated, not stifled."
From negotiation failure to "rebirth"
In 2022, Nexo left the US after failed negotiations with state and federal agencies regarding the Earn Interest product - the savings program that earns interest from cryptocurrency.
At that time, the collapse of FTX and a series of legal crackdowns made the operating environment "unbearable", forcing #Nexo to abandon its development plans in the US.
Prolonged negotiation efforts have reached a deadlock, forcing $NEXO to make the decision to withdraw, considering the US market at that time as "unmanageable".
Which specific policies have changed?
Although the details of the Trump administration's policy adjustments have not been clearly announced, according to Trenchev, the shift in approach - from tightening to encouraging innovation - has been enough to build trust for crypto businesses to return.
He concluded succinctly at the event:
"America is back and so is Nexo."
Nexo's repositioning strategy
Not only did Nexo return simply, but it also undertook a major brand restructuring in October 2024, transforming from a crypto lending platform into a comprehensive and compliant digital asset management platform.
The new strategy - named "Wealth Forward" - focuses on:
Providing flexible and intelligent solutions for independent retail investors.
Focusing on digital asset management instead of just providing conventional lending services.
According to Kosta Kantchev, Co-founder and Executive Chairman of Nexo:
"We are proud to be the first large crypto company to make the strategic shift to a comprehensive digital asset management platform, targeting the sophisticated and proactive investor group."