TL;DR
- Nexo acquires the Argentine platform Buenbit and establishes Buenos Aires as its regional hub to expand across Latin America.
- The deal will allow the company to offer crypto-backed loans, high-yield savings accounts, and trading in over 100 cryptocurrencies.
- The partnership combines the infrastructure and expertise of both firms.
Nexo, the crypto platform with $11 billion in assets under management, acquired the Argentine platform Buenbit, consolidating its presence in Latin America and establishing Buenos Aires as its regional headquarters.
The acquisition will allow Nexo to operate under Argentina’s regulatory framework and expand its reach into Peru and Mexico, strengthening its multi-year strategy for investments and partnerships in the region. Completion of the transaction is subject to the necessary regulatory approvals.
The partnership combines Nexo’s global infrastructure and high-performance product suite with Buenbit’s local expertise and user base. Buenbit clients will gain access to crypto-backed loans, high-yield savings accounts, trading in over 100 cryptocurrencies, and structured products such as Dual Investment. The platform will provide institutional-grade security, liquidity through crypto-backed credit, and personalized support, delivering financial solutions that overcome the limitations of traditional credit in markets like Argentina.
Buenbit, registered with Argentina’s Comisión Nacional de Valores (CNV), has been a key player in crypto adoption, offering fiat-to-crypto solutions in a country marked by high inflation and currency controls. Integration with Nexo will maximize its reach by combining local knowledge with the firm’s global infrastructure.
Nexo Offers a Solution to Argentina’s Currency Controls and High Inflation
The acquisition addresses the need to provide stable, transparent, and regulated financial products in Latin American markets, where volatility and limited access to traditional services hinder value preservation. Nexo aims to bring its experience to the region, ensuring that products are tailored to user needs and compliant with existing regulations.
For Nexo, combining global resources with local market knowledge will enable sustained and exponential growth. Federico Ogue, CEO of Buenbit, noted that the partnership will expand the platform’s positive impact, giving users the ability to save, invest, and manage digital wealth securely.
Through this operation, Nexo establishes a regional hub in Buenos Aires that will serve as a base for future investments and partnerships. It is also a crucial step toward making Latin America a central market for cryptocurrency adoption and digital financial services
