Nexo Expands Its Reach in Latin America with Buenbit Acquisition
Nexo has taken a significant step in the Latin American cryptocurrency market by acquiring Buenbit, a regional crypto platform. This strategic move is aimed at facilitating Nexo’s regulated growth in Argentina, Peru, and Mexico, further solidifying its position as a leading digital asset lender. The acquisition brings Buenbit’s operations, which are registered with the National Securities Commission (CNV) of Argentina, and its vast user base of over 1 million users into Nexo’s global ecosystem.
Buenbit’s Strong Market Performance
Since its inception, Buenbit has successfully processed transactions exceeding $2 billion. The platform has established itself as a key player in Argentina’s crypto landscape, adding more than 40,000 active users in the latter part of 2025, as reported by the company. However, the completion of this acquisition is contingent upon obtaining regulatory approval from the relevant authorities.
Latin America’s Booming Digital Asset Market
Nexo’s acquisition comes at a time when Latin America is experiencing rapid growth in the cryptocurrency sector, fueled by factors such as currency volatility, increasing remittances, and a growing interest in dollar-pegged digital assets. Argentina, in particular, has emerged as a leader in cryptocurrency adoption, as households look for ways to shield their savings from inflation and seek reliable investment options.
CEO’s Vision for a Regulated Future
Federico Ogue, the CEO of Buenbit, expressed optimism about the acquisition, noting that it will enable the company to operate more effectively across the region. He emphasized the goal of providing individuals with opportunities to save, invest, and build wealth in a transparent and regulated environment.
Nexo’s Asset Management and Innovation Focus
Nexo currently manages assets worth $11 billion, illustrating its strong presence in the financial sector. Co-founder Antoni Trenchev referred to Argentina as a vital testing ground for fintech advancements, highlighting the importance of collaborating with local teams to adapt global resources to regional needs.
Enhanced Services for Buenbit Users
As part of the integration process, Buenbit’s users will gain access to Nexo’s comprehensive suite of products, including high-yield savings accounts, crypto-backed loans, structured investment options, futures trading, and participation in the NEXO token loyalty program. The merger is set to provide enhanced liquidity, improved security measures, and round-the-clock personalized customer support.
Buenos Aires: Nexo’s New Headquarters
Buenos Aires will become the base for Nexo’s operations in Latin America. The specifics of the acquisition deal, including financial terms, have not been disclosed by either party.
Nexo’s Regulatory Challenges and Progress
This acquisition follows a year of regulatory adjustments for Nexo. The company exited the U.S. market in 2023 after settling with federal and state regulators for $45 million but has since initiated plans for a potential reentry. Additionally, a lengthy investigation by Bulgarian authorities concluded in December 2024 without any findings of criminal conduct. Nexo has resumed client registrations in the UK, having made necessary upgrades to comply with Financial Conduct Authority (FCA) regulations, thereby expanding its regulated operations across various jurisdictions.
