Crypto lender Nexo obtains U.S. bank charter through acquisition deal
Written by Black Hot Fire Network on September 27, 2022
The crypto market has been battered this year, with nearly $2 trillion wiped off its value since its peak.
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Cryptocurrency lender Nexo on Tuesday announced it has taken a stake in a federally-regulated U.S. bank, paving the way for the company to offer banking services to Americans as a licensed institution.
Nexo, based in Zug, Switzerland, said it has agreed to buy an undisclosed stake in Hulett Bancorp, which owns a little-known bank called Summit National Bank. Through Summit National Bank . . .
