Tag: Nexo

Nexo Secures Preliminary VARA Approval to Launch Crypto Lending and Brokerage Services in Dubai

On Tuesday, Nexo announced its Dubai entity, Nexo DWTC, had secured preliminary approval from Dubai’s Virtual Assets Regulatory Authority (VARA) to engage in virtual asset lending, borrowing, and broker-dealer activities within the UAE’s most populous city. Nexo Gains Initial VARA Approval for Dubai Crypto Operations The crypto lender Nexo received a provisional “Initial Approval [IA]” […] Source CryptoX Portal

Nexo Partners With Sift for Enhanced Digital Asset Fraud Protection

The digital asset firm Nexo has announced its partnership with Sift, aiming to upgrade its fraud prevention mechanisms. The collaboration between the duo is expected to streamline and secure the user experience for Nexo’s customer base, which exceeds six million globally. Nexo to Leverage Sift’s Fraud Protection Services By integrating Sift‘s payment protection and account […] Source CryptoX Portal

Crypto Lender Nexo Seeking $3B in Damages From Bulgaria

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Nexo Launches Simplified Futures Trading with 50x Leverage

Nexo’s futures markets aren’t targeted at high-leverage traders of existing perps exchanges. Rather, they’re designed for Nexo’s existing customer base, as well as users of other exchanges who’ve yet to experiment with leveraged products. Crypto exchange Nexo has expanded its core products with the introduction of futures trading. The exchange now allows its users to trade more than 70 assets with leverage. Nexo’s futures markets have been designed for users who may have no previous experience of leveraged trading. For this reason, this new product comes with multiple consumer safeguards…

Nexo joins sanctions association as regulatory scrutiny increases

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As regulatory scrutiny continues to circle the wider Web3 ecosystem, cryptocurrency lending platform Nexo will look to leverage training resources, connections and data by joining the association of certified sanctions specialists (ACSS). The association offers training and certification for sanctions professionals across a variety of industries including financial institutions, international corporations, law firms, public institutions and a host of other businesses. The ACSS certification is intended to be universal and does not focus on specific jurisdictions or industries. Sanctions specialists that complete the examination are deemed to be multiskilled across…

Nexo in Court With a Co-Founder Over $12M in Missing Assets

According to the court judgment by the London’s High Court on June 27, Nexo and its co-founder Georgi Shulev are disputing the whereabouts of a Ledger hardware wallet containing some of the company’s crypto holdings. Shulev, who is a son of Bulgaria’s former deputy prime minister Lydia Shuleva, founded the company in 2019 together with Antoni Trenchev, who used to be a member of Bulgaria’s parliament, and other co-founders, Kosta Kantchev and Kalin Metodiev. Shulev left the company, which provides crypto trading, lending and custody services, in 2019. The legal…