Nexo has acquired Argentina-based Buenbit, marking a significant expansion into the Latin American market. Announced on December 11, this acquisition allows Nexo to operate under Argentina's regulatory framework and leverage Buenbit's established user base in Argentina and Peru. Buenos Aires will now serve as Nexo's regional headquarters, facilitating further expansion into Mexico and Peru. The acquisition aligns with Buenos Aires' evolving regulatory environment, which plans to permit banks to offer crypto services by early 2025. Nexo, managing approximately $11 billion in assets across 150 jurisdictions, aims to capitalize on the growing institutional participation in crypto markets and the use of Bitcoin as a hedge against inflation in emerging markets.
Nexo Acquires Buenbit, Establishes Buenos Aires as Latin America HQ
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