Nexo, a cryptocurrency lender, has established a minimum deposit limit of 5,000 USD. This decision is designed to attract wealthy clients and enhance the efficiency of its services. The change highlights Nexo’s strategic focus on catering to high-net-worth individuals.
Nexo to phase out cashback for UK Exchange and Card Transactions as FCA rules approach
From Oct. 8 It will be initiating the phase-out of cashback payouts for Nexo Exchange and Nexo Card transactions, as well as referral and affiliate programs.
Nexo launches crypto Mastercard for EEA citizens
Bulgarian decentralized lending platform Nexo has unveiled a crypto-powered debit and credit Mastercard for citizens of the European Economic Area (EEA).
The Nexo Card will allow users to spend their euro, U.S. dollar, and British pound stablecoins via debit transactions.
Nexo achieves regulatory approval in Poland
Nexo announced its registration as a Virtual Assets Service Provider (VASP) in Poland with the Polish Ministry of Finance.
The scope of this approval allows Nexo to provide services in Poland involving the intermediation of exchanges between virtual currencies and fiat payment methods, as well as the administration of customer accounts, custody, and transactions.
Nexo commits additional $50M to buyback program
On Tuesday, Nexo disclosed that its board of directors had committed an additional $50 million to buybacks, building off the company’s initial $100 million repurchase program launched in November 2021.
The approval green lights the discretionary repurchase of up to $50 million worth of NEXO tokens on the open market. The company said it increased the size of its repurchase program to demonstrate its “solid liquidity position” and willingness to invest in its community.
Nexo signs term sheet with Vauld for potential acquisition
Beleaguered cryptocurrency lender Vauld has been thrown a lifeline from larger competitor Nexo, in a sign of mounting consolidation in the crypto market.
Nexo said Tuesday it had signed a term sheet with Vauld giving it 60 days of exclusive talks to explore an all-equity acquisition of the company. If successful, Nexo said it plans to restructure the company and pursue an expansion in Southeast Asia and India.
Nexo launches $150 million investment & acquisition fund focused on Web3
Nexo, the leading regulated institution for digital assets, today announced the launch of Nexo Ventures, its in-house Web3-focused investment and acquisition fund.
Nexo Ventures is committed to accelerating the development and adoption of blockchain technology and will invest $150 million in long-term commitments in a wide range of early-stage retail and institutional projects synergetic to Nexo’s core businesses.