Nexo, a popular digital asset wealth initiative, has reinforced its complete compliance with the Markets in Crypto-Assets (MiCA) regulation of the European Union. Hence, Nexo has highlighted its preparedness to keep providing services related to digital assets within the European Economic Area (EEA).
As Nexo stated in its official announcement, the development takes place following the establishment of an inclusive regulatory model by MiCA for notable crypto businesses working in Europe. So, it has accomplished the required compliance needs ahead of the official implementation of the regulation.
Nexo Bolsters MiCA Compliance via DLT Finance and Tangany
Nexo’s reaffirmation of compliance with the MiCA regulation indicates that it is ready to keep providing services related to digital assets in the European Economic Area (EEA). As a result, the platform now provides the services in the area via a locally organized model backed by a couple of MiCA-licensed collaborators. The respective approach is set to guarantee seamless access to the comprehensive digital asset wealth project for European users.
To complement Nexo’s activities under the unique regulatory regime, it has collaborated with DLT Finance and Tangany. Both of these platforms currently possess MiCA licenses. The firm mentioned that the respective structure merges the global wealth management entity thereof with a dedicated European framework.
At the same time, it guarantees regulatory compliance. With the use of specialized local collaborators, Nexo attempts to fortify client protection and operational efficiency as Europe is adopting a standardized model for the services related to digital assets.
As included in this collaboration, Tangany focuses on institutional-grade digital asset custody. It provides protected custody infrastructure to secure user assets. In the meantime, DLT Finance regulates brokerage services regarding financial instruments and digital assets. Along with the MiCA license, the platform also has authorization under MiFID II to deliver compliant brokerage services across diverse financial products.
Building a Stronger Foundation in Europe to Drive Growth Under MiCA Regulation
This merger of regulated brokerage and custody services establishes a streamlined operational framework for EEA-based consumers. According to Nexo’s Chief Product Officer, Yasen Yankov, “Now, at the end of a robust testing phase, all Nexo services are provided in the usual way with no disruptions.”
Additionally, Martin Kreitmair, the CEO of Tangany, said, “What our three teams achieved together despite the project’s complexity sets a blueprint for institutions navigating the European market.”
Moreover, DLT Finance’s Senior Partnerships Manager, Alan Kennedy, mentioned, “Nexo has built one of the most recognizable digital asset wealth platforms globally, and we are proud to support its next chapter in Europe. Overall, the strengthened European foundation of Nexo is poised to back the platform’s long-term strategy to assist in shaping the world of digital asset wealth.
