Nexo Acquires Buenbit to Expand Crypto Services in Latin America
Nexo’s acquisition of Buenbit grants regulatory approval in Argentina, expands services to Peru, and positions Buenos Aires as a hub for planned growth into Mexico and beyond.
Crypto lender Nexo agreed to acquire Argentina-based Buenbit for an undisclosed amount, securing regulatory approval to operate in Argentina and access to Buenbit’s users in Argentina and Peru. Registered with Argentina’s Comisión Nacional de Valores, Buenbit offers fiat-to-crypto services suited to markets with inflation and currency controls. Nexo plans to establish its Latin American headquarters in Buenos Aires and expand into Mexico and Peru as part of a multiyear regional strategy. The deal enables Nexo to provide crypto-backed loans, high-yield savings accounts, and trading tools under local regulations.
- Regulatory licensing: Official authorization granted by a governmental or regulatory body to conduct specific business activities within a jurisdiction.
- Crypto-backed loans: Loans secured by cryptocurrency holdings, allowing borrowers to access liquidity without selling their crypto assets.
- Fiat-to-crypto services: Financial services enabling the exchange of traditional government-issued currency (fiat) for cryptocurrencies.