Nexo Returns to US Market with Bakkt Partnership

Nexo, a digital asset wealth platform, has relaunched its services in the United States after a three-year absence. The company cited hostile regulatory conditions under former SEC Chair Gary Gensler as the reason for its initial departure. Nexo settled with the SEC for $45 million in January 2023 over its Earn Interest Product.

The platform has now partnered with Bakkt, a digital asset trading infrastructure provider, to offer a suite of products including fixed and flexible yield programs, an integrated cryptocurrency exchange, and crypto-backed credit lines. These services operate through a compliant framework designed to support portfolio management and liquidity access for retail and institutional clients.

Fiat on-ramps and off-ramps are available via automated clearing house transfers and wire transactions. The company structured its U.S. product lineup through partnerships with licensed service providers, with certain services offered via a third-party SEC-registered investment adviser.

Eleanor Genova, head of communications at Nexo, confirmed the company complied with the SEC's 2023 order requiring discontinuation of its EIP product. The relaunch represents new offerings rather than a continuation of the discontinued program.