Nexo to Stop Earn Interest Product for US Clients on April 1st

Crypto lending platform Nexo announced it will stop its Earn Interest Product for all US clients on April 1st. US clients should begin planning the withdrawal of their funds at a convenient time by this date.

Last December, Nexo announced that it would be phasing out its products and services in the US in a gradual and orderly fashion over the coming months. In January, Nexo reached a settlement with multiple institutions, including the US Securities and Exchange Commission (SEC), the North American Securities Administrators Association (NASAA) and others, to pay a $45m fine and stop offering its lending product Earn Interest.