Nexo Capital Incorporated is a cryptocurrency exchange and custodial crypto holding platform headquartered in the Cayman Islands.
Nexo was founded in 2018 by Antoni Trenchev. The company states it is active in over 200 countries and has more than 7 million customers.
Products The company offers trading for over 60 cryptocurrencies. They also offer a loan service which allows users to loan cryptocurrencies. A debit or credit card issued by Mastercard can be requested. If the card is a debit card, it sells the user's cryptocurrency; if not, it loans it.
Legal disputes In 2022, eight US states filed lawsuits against Nexo, alleging the company lacked the necessary licensing in the US. The company agreed to pay penalties totaling 45 million US dollars and exited the US market.
In January 2023, the company's premises in Sofia were searched by Bulgarian authorities, but the proceedings were dropped at the end of 2023. Nexo subsequently sued the Republic of Bulgaria for 3 billion dollars in damages.
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