Crypto lender Nexo has announced that it will be phasing out its products and services in the United States in a gradual and orderly fashion over the coming months.
During the course of 2021 and 2022, Nexo has off-boarded clients from the states of New York and Vermont and has suspended new registrations for all US clients for its Earn Interest Product to meet regulators' expectations.
As of December 6, 2022, Nexo's Earn Interest Product will not be available for existing clients in eight additional US states (Indiana, Kentucky, Maryland, Oklahoma, South Carolina, Wisconsin, California, and Washington), but these users will continue to have access to other Nexo products.
Nexo has not yet disclosed the exact timing of its overall exit from the U.S., but says its payment specialists have been informed and will continue processing withdrawals in real-time so that customers as always have uninterrupted access to their assets.
Lending
Policy and Regulation
