Nexo Upscales Its EU-Wide Licensing with New Registration in Italy
November 30, 2022 – Nexo, the leading regulated institution for digital assets, has announced it has secured a registration as a Virtual Currency Operator with Italy’s Organismo Agenti e Mediatori (OAM). While the crypto-native FinTech already boasts over 50 licenses worldwide, Nexo’s Virtual Currency Operator registration in Italy is yet another doorway for the fully compliant provision of transfers, issuance and exchange of virtual currencies, and digital wallet services.
With the upcoming introduction of the Markets in Crypto-assets Regulation (MiCA), the EU Members are headed toward a universal regulatory framework for cryptocurrencies. Under MiCA, the new addition to Nexo's portfolio of authorizations can be passportized and will thus facilitate Nexo's desired compliance across all EU Member States.
“Over the years, Nexo has maintained excellent standing with regulators across the globe through our continuous license acquisition effort. This registration in Italy is part of our master plan to strengthen our presence in the country and improve the robustness of our compliance across Europe. In this respect, we aim to lead by example with our top-tier regulatory and compliance infrastructure and by actively participating in the establishment of a functional, useful, and beneficial regulatory framework for crypto. This is what gives our clients and partners the highest level of security and trust," said Antoni Trenchev, Co-founder and Managing Partner of Nexo.
Nexo’s longstanding proactive stance on regulation has also led the company to procure multiple gateways toward full compliance in all jurisdictions where it operates. Italy’s increasing potential as an international FinTech and technology hub, highlights the importance of Nexo’s registration as a Virtual Currency Operator which will give Nexo even more flexibility in the European market.
Nexo is the world’s leading regulated digital assets institution. The company’s mission is to maximize the value and utility of digital assets by offering a comprehensive suite of products that include advanced trading solutions for retail and institutional clients (Nexo Pro and Nexo Prime), aggregation of liquidity from leading venues, tax-efficient asset-backed credit lines, a high-yield Earn Interest product, all accompanied by top-tier custodial insurance and military-grade security of the Nexo platform. In early 2022, the enterprise launched its investment arm Nexo Ventures, which now boasts over 60 portfolio companies. Nexo has processed $100+ billion for 5,000,000+ users across more than 200 jurisdictions.