Recently, we had the opportunity to speak with Lorenzo Pellegrino, who has taken on the role of Chief Banking Officer at Nexo, a platform focused on digital asset management that aims to assist clients in enhancing, managing, and safeguarding their cryptocurrency investments. Nexo is committed to fostering wealth generation by providing customized solutions that deliver lasting value, backed by 24/7 customer support. Since its inception in 2018, Nexo has reportedly served clients across more than 150 jurisdictions. The platform merges technology with a client-centric model, offering an array of savings options, crypto-backed loans, trading functionalities, and liquidity solutions, including a crypto debit/credit card. Below is our conversation with Lorenzo Pellegrino.
Insights from Experience in Digital Wallets and Payments
Crowdfund Insider: With your extensive experience in shaping digital wallet and payment solutions, particularly through your roles at Skrill and NETELLER, what key insights are you bringing to your position as CBO at Nexo, especially regarding the balance between speed, convenience, and regulatory compliance in the crypto space?
Lorenzo Pellegrino: At Nexo, our primary aim is to instill a sense of comfort and assurance in our users by providing familiar payment methods, which ultimately leads to increased conversion and client acquisition. We are actively enhancing funding options, integrating local payment methods, and streamlining user experience across all the markets we serve. When innovation feels familiar, it becomes instinctive, which is crucial for adoption. Early in my career at NETELLER and Skrill, I learned how significantly that familiarity influences user engagement. By offering localized funding and withdrawal options, we transformed new technology into habitual behavior—and this principle guides our initiatives at Nexo.
Bridging Digital Assets with Daily Finance
Crowdfund Insider: Nexo has publicly declared its ambition to integrate digital assets into everyday finance through initiatives like the dual-mode Nexo Card and global transaction infrastructures. From your perspective in banking infrastructure, what do you consider the most significant barriers to achieving the seamless integration of crypto assets and real-world applications, and how do you plan to address them?
Lorenzo Pellegrino: When you look at the global landscape—considering developments like MiCA in Europe, stablecoin regulations in the U.S., and CBDC trials in Asia—financial infrastructures are undergoing real-time transformations. The ultimate goal is to achieve alignment: ensuring that digital asset platforms and banks can collaborate effectively within a unified compliance framework. Financial institutions are increasingly forming partnerships with digital asset platforms as they refine their strategies in this sector. Our mission is to build trust by transparently showcasing our operational methods. We openly share our customer profiling protocols, transaction monitoring systems, and collaborations with custodians such as Ledger and Fireblocks. This level of transparency fosters confidence. Our advantage lies in the fact that much of this infrastructure is already in place, allowing Nexo to operate across 150+ jurisdictions—poised for the next evolution of finance.
The Scope of Responsibilities as Chief Banking Officer
Crowdfund Insider: The term “banking” can be broadly interpreted, but as the Chief Banking Officer at a digital asset platform, what areas fall under your responsibilities? Are you focused on aspects such as bank licensing, fiat partnerships, in-house banking systems, or the integration of payment rails with cryptocurrency?
Lorenzo Pellegrino: My role is distinctly defined: to enhance and broaden our banking and payment infrastructures. This entails deepening our existing relationships with financial institutions, identifying new opportunities, and utilizing features developed by those partners. My focus is on evolving how value is transferred globally, integrating liquidity, payments, and digital assets within a cohesive operational framework. A significant component of this is the development and expansion of the Nexo Card program, which allows clients to toggle between credit and debit modes, enabling them to either spend against their crypto collateral or use their available balance directly. The Nexo Card is currently active in the EU, with intentions to extend its reach as we continue to expand our global payments network.
Navigating Global Expansion and Regulatory Challenges
Crowdfund Insider: As you expand banking and payment infrastructures on a global scale, how do you balance the demand for speed, scalability, and low costs with the varying regulatory frameworks, anti-money laundering (AML) and know your customer (KYC) requirements, and the risks presented by local banking partners?
Lorenzo Pellegrino: At Nexo, our market expansion is influenced by two primary factors: the opportunities presented by potential clients and, crucially, favorable regulatory conditions. While advanced payment infrastructure is a key component of our market entry strategy, we take a comprehensive approach, coordinating efforts across our Legal, Compliance, Product, and Marketing teams to formulate a clear go-to-market strategy that delivers solutions which meet—and ideally surpass—local needs and expectations.
Positioning Nexo in the Crypto Ecosystem
Crowdfund Insider: One of the intriguing challenges within the crypto-asset landscape is the disparity between fiat banking systems and crypto networks, such as differences in settlement times and regulatory uncertainties. How will you ensure that Nexo stands out as more than just another fintech scaling global infrastructures, but rather as a distinctive entity due to its hybrid model of integrating crypto and banking?
Lorenzo Pellegrino: We design and deliver our products and services in direct response to our customers’ needs—this is foundational to our success. Our development process is not based on assumptions, but rather on genuine user feedback and demand. The Nexo ecosystem encompasses every aspect of wealth—earning, borrowing, spending, and trading—within a single platform. Each product is designed to complement the others, creating a cohesive experience that sets us apart. We are not merely adding features; we are creating a seamless user experience. Clients can earn interest, access a crypto-backed credit line, or make purchases with the Nexo Card, all without having to navigate away from our platform. This interconnectedness is what makes our approach unique. As a result, clients increasingly recognize Nexo as their primary wealth operating system, where digital assets, credit, and payments function harmoniously.
Enhancing Real-World Usability of Crypto Holdings
Crowdfund Insider: For both individual users and institutional clients, the goal is to make cryptocurrency holdings more applicable in real life—be it for spending, borrowing, or cross-border transactions. What specific product developments do you anticipate rolling out in the upcoming 12 to 18 months?
Lorenzo Pellegrino: What excites me most is empowering individuals to utilize their digital assets in everyday life. We do not want our clients to feel restricted within an app; instead, we aim for them to have that experience accessible in their pockets, integrated into their daily routines, whether it’s using the Nexo Card for a coffee or securing a mortgage for their first home. To support this vision, we are significantly expanding the Nexo Card and broadening access to personal accounts through our banking partners, allowing clients to manage their entire wealth from a single platform without needing to switch between systems. It’s all about making digital assets genuinely practical—applicable in real-time, anywhere, and anytime. Additionally, we are enhancing cross-border payments and improving on- and off-ramps to facilitate quicker and more transparent transitions between fiat and digital currencies. As the markets evolve, the role of tokenized real-world assets will increase, and we are preparing our infrastructure for that integration.
Ensuring Resilience Against Regulatory Risks
Crowdfund Insider: A skeptic might question the viability of many crypto platforms that promise real-world payment capabilities, banking features, and cards, as regulatory challenges, partner exits, or failures often hinder these ambitions. How will you, in your role as CBO, ensure that Nexo’s banking and infrastructure can withstand these risks? Do you have strategies for partner diversification, contingency plans, or regulatory safeguards in place?
Lorenzo Pellegrino: We have confidence in our structure because it is built on transparency and strong, long-term partnerships. Our close collaborations with our partners keep us well-informed and ready for any impending changes that could influence our customers’ activities. In addition, our compliance and risk teams continuously monitor counterparties and market shifts, allowing us to adapt proactively to challenges. We have developed comprehensive contingency plans to ensure uninterrupted service. The experience of recent years teaches us that resilience is not something you establish during a crisis; it is built well in advance. This is why transparency and preparedness are our competitive advantages.
Communicating Trust in a Complex Landscape
Crowdfund Insider: From a branding and positioning standpoint, your role encompasses regulations, payments, cryptocurrencies, and global finance. How will you convey this internally at Nexo and externally to retail customers, institutional clients, and regulators to foster trust?
Lorenzo Pellegrino: At Nexo, discussions regarding our banking strategy are ongoing at the management level, where we actively exchange ideas and explore new possibilities. Concurrently, we prioritize transparent communication with our clients—both retail and institutional—by clearly sharing updates on forthcoming changes, new products, and features through a comprehensive marketing and communications strategy. We maintain daily engagement with our customers, leveraging both our digital channels and dedicated account management teams to ensure a steady and open dialogue. In an industry often characterized by noise, clarity becomes our strongest asset.
Future Growth: Developed vs. Underserved Markets
Crowdfund Insider: Given your background in scaling payments in emerging markets, do you foresee Nexo’s growth trajectory leaning more towards developed financial markets or underserved and frontier markets?
Lorenzo Pellegrino: It’s a dual focus. In established markets, institutional adoption and regulatory clarity are accelerating, creating a stable environment for the development and expansion of our products. Conversely, in emerging markets, digital assets are already integral to everyday saving and transaction practices, presenting a considerable addressable market for Nexo. However, this requires greater attention due to the evolving regulatory landscape in these areas. Regardless, we are prepared for the challenge. Already operating in over 150 markets, our ambition is to establish ourselves as a truly global service, free from growth limitations. We recognize significant potential in regions where traditional finance fails to serve everyone effectively. Our Payments Gateway and localized onboarding processes facilitate the inclusion of these markets in the broader global dialogue on digital wealth. What we’re witnessing in these areas is a transformation, as digital assets are bridging gaps in access and trust, with Nexo’s infrastructure supporting a safe and sustainable transition.
Envisioning the Future of Banking with Digital Assets
Crowdfund Insider: What is your personal vision for the evolution of banking in the next five years, especially in a world where digital assets are mainstream?
Lorenzo Pellegrino: The banking landscape is already undergoing significant changes. It’s only a matter of time before every major institution—including leading banks—begins to operate on blockchain technology and regards crypto assets with the same level of confidence as fiat currencies. However, traditional financial entities are still developing the expertise and infrastructure that Nexo has been refining for years. This positions us as a prime partner in helping them enhance their platforms, unlock new opportunities, and cultivate deeper, long-lasting relationships. Personally, I envision a future where individuals have instantaneous, secure control over their assets, managing them on their own terms. My objective is for Nexo to remain the partner that simplifies this transition, enabling a more open, interconnected, and human financial system.
