Nexo acquires Buenbit to anchor regulated push into Latin America’s growing crypto market
Nexo acquired Latin American crypto platform Buenbit to facilitate a regulated expansion across Argentina, Peru, and Mexico.Summary
Digital asset lender Nexo has acquired the fast-growing Latin American crypto platform Buenbit, which is registered with Argentina's securities regulator (CNV) and has processed over $2 billion in volume. This transaction, pending regulatory approval, will integrate Buenbit's operations and over one million users into Nexo's global platform, securing a regulated presence in the region. Nexo views Latin America as a rapidly expanding crypto market driven by currency instability and demand for dollar-denominated assets. Buenbit users will gain access to Nexo's expanded product suite, including savings, credit, and trading tools, with Buenos Aires designated as Nexo's new Latin American hub. This move follows Nexo's recent regulatory repositioning, including exiting U.S. markets in 2023 but resuming operations in the UK and concluding an investigation in Bulgaria.
(Source：The Block)