Overview
- Nexo announced an agreement to buy CNV-registered Buenbit, which operates in Argentina and Peru.
- Buenbit clients would gain access to Nexo’s products, including crypto‑backed credit, high‑yield accounts and trading in more than 100 cryptocurrencies.
- The companies said completion is subject to customary regulatory approvals, and no purchase price was disclosed.
- Nexo plans to use Buenos Aires as a hub for expansion into Peru and Mexico, and it cites $11 billion in assets under management.
- Reuters noted Nexo’s earlier U.S. exit following roughly $45 million in fines and recent meetings with President Trump and Donald Trump Jr., as local reports say Argentina’s central bank is considering allowing banks to offer crypto services.