Spend money to return to the US? Nexo pays $67.5 million in settlement and teams up with Bakkt to launch crypto lending services

Nexo Returns to the U.S., Partners with Bakkt to Launch Compliant Lending and Yield Products, Ending $67.5 Million Settlement Shadow and Betting on a New Regulatory Environment

After a Three-Year Hiatus, Nexo Rebuilds and Re-Engages with Bakkt

According to Reuters, cryptocurrency lending platform Nexo officially announced its return to the U.S. market on February 16, 2026, marking three years since the company withdrew due to regulatory pressures. The official statement indicates that this digital asset wealth platform, once a leader in the industry, has established a new U.S. headquarters in Florida and is reconstructing its business framework through collaborations with several leading compliance service providers.

The core strategy of this re-entry is to establish deep technological and infrastructural cooperation with the U.S.-listed crypto company Bakkt. Supported by the Intercontinental Exchange (ICE), this partnership aims to provide U.S. users with regulated trading and custody services.

The relaunch offers a comprehensive range of services catering to both retail and institutional clients. Nexo plans to introduce product lines including flexible and fixed-term yield programs, cryptocurrency exchanges, crypto-backed credit lines, and loyalty programs. To ensure compliance, Nexo emphasizes that its services are provided through authorized U.S. partners, with some investment advisory services managed by third-party investment consultants regulated by the U.S. Securities and Exchange Commission (SEC). Additionally, users can deposit and withdraw fiat via automated clearing house (ACH) transfers and wire transfers, demonstrating Nexo’s readiness in payment channel integration.

Nexo Communications Director Eleonor Genova stated that this return is the result of long-term “deliberate calibration,” reflecting the company’s commitment to operating within a clear and institutionalized regulatory framework.

Despite managing over $371 billion in global transaction volume and approximately $11 billion in assets, the U.S. market’s re-entry holds symbolic significance for Nexo’s global brand strategy. Besides product restructuring, Nexo has recently increased its visibility through sports sponsorships, including naming rights for the ATP 500 Dallas Open (Nexo Dallas Open), and partnerships with Audi Revolut F1 team and the Australian Open.

Emerging from Regulatory Shadows, Settling $67.5 Million in Disputes

Looking back at Nexo’s conflicts with U.S. regulators, the earliest incidents date to late 2022. Under the aggressive enforcement of SEC Chair Gary Gensler, Nexo’s core product “Crypto Earn” was deemed an unregistered security. Nexo claimed that dialogue with regulators had reached a dead end and criticized the U.S. environment as extremely unfriendly to blockchain companies, leading to a phased withdrawal from the U.S. in December 2022. In January 2023, Nexo agreed to pay a total of $67.5 million in settlement—$45 million to the SEC and $22.5 million to resolve legal actions initiated by multiple state regulators against the same product.

The settlement agreement did not involve Nexo admitting or denying the allegations, but required the company to cease offering interest products to U.S. customers. Company executives admitted that the withdrawal was a necessary response to the environment at the time. However, with political and regulatory shifts in the U.S. between 2025 and 2026—particularly the appointment of more innovative and inclusive SEC leadership under Paul Atkins—Nexo saw an opportunity to re-enter.

The company emphasizes that its current product structure is entirely different from the ones it was ordered to stop in 2023, with all yield products managed by registered investment advisors to comply with current federal securities laws.

While demonstrating a strong compliance stance, Nexo still faces sporadic legal challenges. For example, California’s Department of Financial Protection and Innovation recently fined Nexo $500,000 for issuing over 5,000 unlicensed loans to California residents. In response, Nexo stated that the fine pertains to past operations and does not reflect the company’s current compliance status. This $67.5 million “learning fee” has taught Nexo how to operate transparently and mitigate regulatory risks through third-party infrastructure.

Crypto Policy Shift and the Rise of the Trump Family’s Involvement

Nexo’s timing for re-entering the U.S. market is closely linked to the Trump administration’s more crypto-friendly stance. As early as April 2025, Nexo hosted a business event in Sofia, Bulgaria, inviting Donald Trump Jr., the eldest son of former President Donald Trump, as a keynote speaker. He publicly praised cryptocurrencies as the future of finance and emphasized that the U.S. should lead in the industry. Additionally, Nexo co-founder Antoni Trenchev had lunch with Trump at his golf course in Scotland last July, discussing visions for the crypto industry.

Image source: Analytics Insight Nexo co-founder Antoni Trenchev had lunch with Donald Trump at his golf course in Scotland

Although Nexo’s spokesperson clarified that the company’s business decisions are not directly connected to private interactions with the Trump family, the re-entry is purely based on the maturity of its compliance framework, many believe that the shift in government stance on crypto has provided Nexo with a more stable regulatory environment. Under Trump’s leadership, U.S. digital asset policies shifted from enforcement crackdowns to supportive regulation, paving the way for companies like Nexo to return.

The Trump family itself has deep involvement in the crypto market through World Liberty Financial, which has raised questions about conflicts of interest among ethics experts. However, the White House has repeatedly stated there are no conflicts. For Nexo, this political climate shift means regulators are less likely to view crypto lending as a threat. Nexo’s choice to base its headquarters in Florida aligns with the state’s recent efforts to create a crypto-friendly zone. In this context, Nexo aims not only for business growth but also to dispel past “gray area” perceptions through partnerships with compliant entities.

Advancement of Market Structure Legislation and a New Chapter in U.S. Crypto Finance

As the U.S. Congress intensively debates the CLARITY Act and other crypto market regulation bills in 2026, Nexo’s return is seen as a bellwether for industry revival. Although the bill, which aims to clarify regulatory responsibilities, still faces bipartisan negotiations in the Senate, White House crypto advisor Patrick Witt has emphasized that consensus must be reached before the November midterm elections to end long-standing regulatory uncertainty. SEC Chairman Paul Atkins’ testimony at congressional hearings further signals support for balancing technological innovation with compliant operations.

During the 2022–2023 wave of collapses—where platforms like BlockFi, Genesis, and even Coinbase, which temporarily halted Bitcoin ($BTC) lending—many players failed, leaving the market in upheaval. Currently, the industry is undergoing a major reshuffle, with survivors like Nexo turning to collaborations with institutional service providers like Bakkt or exploring decentralized finance (DeFi) protocols. This hybrid model of “traditional finance infrastructure + crypto asset services” is becoming the mainstream in the U.S. crypto financial market by 2026.

Nexo’s return to the U.S. is more than a corporate move; it reflects the industry’s evolution from unregulated growth to institutionalized governance. Despite ongoing volatility—such as recent sharp swings in Bitcoin and Ethereum ($ETH) prices causing liquidation pressures—Nexo leverages its extensive global transaction experience of over $371 billion and tailored compliance pathways for the U.S. market to redefine digital asset banking standards. As regulatory frameworks stabilize, this veteran crypto platform’s comeback is poised to play a more pivotal role in the future global financial landscape.