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Project Overview
Nexo is a cryptocurrency lending institution offering quick fiat on-ramps for more than 40 cryptocurrencies, industry-leading interest rates on assets, an intuitive cryptocurrency exchange, instant cryptocurrency credit lines, and a credit card backed by cryptocurrencies.
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Nexo Completes EU MiCAR Compliance Overhaul, Partners with Two German Licensed Institutions to Serve the European Market
According to Bitcoin.com, digital asset wealth platform Nexo announced the completion of an upgrade to its European Economic Area (EEA) operational structure to comply with the EU's Markets in Crypto-Assets Regulation (MiCAR). Nexo chose to partner with two entities regulated by the German Federal Financial Supervisory Authority (BaFin) rather than directly applying for a single MiCAR license: Tangany holds a MiCAR license and is responsible for providing segregated digital asset custody infrastructure; DLT Finance holds both MiCAR and MiFID II authorizations and is responsible for providing brokerage and execution infrastructure. Currently, all of Nexo's services in the EEA are operating seamlessly without any interruption.
ECB Signs Agreements with Three Standard-Setting Bodies to Reduce Digital Euro Access Costs
According to Cointelegraph, the European Central Bank (ECB) has signed agreements with the European Card Payment Cooperation, Nexo Standards, and the Berlin Group to reuse existing open payment standards for digital euro transactions—aiming to lower system integration costs for banks, merchants, and payment service providers. These standards cover contactless payments, merchant and payment service provider connectivity, and alias-based payments (e.g., using phone numbers). The ECB stated that this initiative will help reduce market adoption costs and foster a unified digital euro user experience across the euro area. Earlier, Reuters cited an ECB analysis estimating that the digital euro could cost EU banks approximately €4–6 billion over four years.