NEXO price rallies 20% as Nexo re-enters US market with new product offerings
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Crypto lender Nexo has confirmed re-launching in the United States after its exit in late 2022.
The firm announced its re-entry during an event that featured key industry figures, including Israel’s Minister of Innovation and Technology Gila Gamliel, Nexo co-founder Antoni Trenchev, and Donald Trump Jr.
The move comes as the United States braces for clear cryptocurrency regulation under the Trump admin and the new SEC chair.
Meanwhile, the announcement sparked optimism as the crypto community celebrated the firm’s return and a lucrative roadmap.
NEXO capitalized on the buzz to soar from daily lows of $1.101 to $1.3152- a 19.45% surge.
The announcement highlighted:
Retail and institutional clients will have access to our hallmark offerings: high-yield crypto savings accounts, asset-backed credit lines, advanced trading, and institutional-grade liquidity solutions.
Notably, Nexo exited the US due to regulatory pressure and unclear policies as watchdogs deemed its “Earn Interest Product” an illegal security.
New offering for US investors
The crypto lender plans to build from where it left off. Nexo promises lucrative products for retail and institutional investors in the United States.
Clients will enjoy high-yield savings accounts that allow them to earn significant returns by investing their assets with Nexo.
Also, users can borrow against their digital coin holdings without selling their tokens.
Further, Nexo introduces high-end trading tools to support active traders, while institutional-grade liquidity guarantees a smooth trading experience.
High-profile individuals support Nexo’s move
The firm’s re-launch event was more than a usual press conference.
The presence and endorsement by Donald Trump Jr. and Israeli Minister Gila Gamliel reflect the increasing integration of blockchain into the broader economic objectives.
Trump Jr. commented on the move, stating:
We see the opportunity for the financial sector and want to ensure we bring that back to the US.
Nexo’s co-founder, Antoni Trenchev, displayed optimism.
He signaled the firm’s dedication to operating in an environment that prioritizes regulatory growth and innovation, possibly learning from the challenges that fueled the 2022 exit.
NEXO price outlook
The alt saw a swift jump to the $1.3152 daily high after the news.
It currently trades at $1.21 after retracing from the 24-hour peak.
NEXO’s 150% surge in trading volumes highlights renewed trader interest in the token.
Bulls target the resistance at $1.6, which would mean an over 30% surge from the alt’s current price.
Broad-based sentiments support the upside. Bitcoin trades at $93,800, eyeing solid rallies upon a decisive candlestick closing above $95,000.
Enthusiasts are potentially betting on Nexo’s ability to capitalize on the world’s largest economy with its updated product suite.
Many expect massive growth for NEXO if the lender adheres to regulations while scaling its products and services.
Meanwhile, Nexo’s re-launch in the United States comes at a crucial time.
The American financial landscape is shifting amid friendly crypto regulatory approaches and a focus on innovation.
The post NEXO price rallies 20% as Nexo re-enters US market with new product offerings appeared first on Invezz
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