Nexo Partners with German Firms for EU MiCAR Compliance
Nexo, one of the world's largest centralized crypto lenders, has restructured its European operations to meet the EU's Markets in Crypto-Assets Regulation (MiCAR) standards.
Instead of obtaining a direct MiCAR license, Nexo partnered with two regulated German firms, Tangany and DLT Finance, which are licensed by BaFin, Germany's Federal Financial Supervisory Authority.
The partnership allows Nexo to offer services aligned with European operational standards, including segregated digital asset storage through Tangany's custody infrastructure and brokerage and execution capabilities for digital assets and financial instruments through DLT Finance.
Nexo's head of communications, Eleonor Genova, emphasized that regulatory clarity provides a much-needed benchmark for the industry, giving institutions and clients a defined standard to measure a platform against.