Nexo Acquires Buenbit, Expands Latin America Crypto Presence

Cryptocurrency lending platform Nexo has acquired Buenbit, an exchange based in Buenos Aires. The purchase gives Nexo a legal way to enter the growing digital asset market in Latin America.

Nexo manages $11 billion in assets and now adds Buenbit’s one million users from Argentina and Peru. 

While the financial details are not disclosed, the deal gives Nexo an immediate presence in a region where crypto transactions rose to over $87.7 billion in December 2024. With the acquisition, Nexo can offer its lending, earning, and trading products to a new group of customers who need these services.

Buenbit Deal Opens Up Latin America

Nexo has chosen Buenbit because it is a fully registered Virtual Asset Service Provider with Argentina’s National Securities Commission (CNV). This license, along with Buenbit’s established operations in Peru, allows Nexo to skip years of regulatory work. Buenos Aires will become Nexo’s headquarters for Latin America, helping the company expand into Mexico and other countries. 

Co-founder Antoni Trenchev called the move the best way to offer high-quality financial products to a region eager for financial innovation. According to him, “Argentina has long been a proving ground for fintech innovation. By joining forces with a team that knows this market inside out, we’re taking a confident first step in bringing Nexo’s global resources to a local context.”

Buenbit CEO Federico Ogue said that joining Nexo is a natural next step to better serve local users. The deal comes after Nexo’s recent re-entry into the U.S. market, following the payment of $45 million in regulatory fines in 2023. In contrast, Latin America has clearer rules and better political support for digital assets. 

Market Welcomes the News

Buenbit has processed over $2 billion in transactions, showing a strong demand for reliable fiat-to-crypto services. Starting now, its customers will have access to Nexo’s crypto-backed credit lines, high-yield accounts, futures trading, and a loyalty program—features that were not available in the region through a single regulated provider before.

Following the news, the NEXO token experienced moderate volatility but ended the 24-hour period with a net positive shift, according to real-time data from CoinMarketCap. As of the latest update, NEXO trades at $0.9700, reflecting a 1.59% increase over the past 24 hours.

The acquisition highlights a larger trend in the industry: big platforms are working hard to establish a presence in emerging markets before regulations become stricter. The integration is expected to finish in the first quarter of 2026, pending final regulatory approvals.

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