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Reuters
Thu, December 11, 2025 astatine 8:02 AM CST 1 min read
Dec 11 (Reuters) - Cryptocurrency steadfast Nexo is acquiring Buenbit, an Argentine trading platform, arsenic it targets maturation crossed Latin America, it said on Thursday.
Nexo, which earlier this twelvemonth announced it would instrumentality to the United States aft leaving the marketplace owed to $45 cardinal successful regulatory fines, has cozied up to the Trump family, gathering with the president and his son, Don Jr., successful caller months.
The Cayman Islands institution that offers crypto-backed loans, trading tools and a crypto speech did not supply fiscal details of the acquisition.
Buenbit is registered done Argentina's securities regulator and operates successful the South American state arsenic well arsenic successful Peru, boasting much than 1 cardinal clients, according to Nexo.
"As portion of its multi-year strategy for the region, Nexo volition make Buenos Aires arsenic a determination hub for aboriginal partnerships and investments crossed Argentina, Peru and Mexico," the steadfast said successful a statement.
Argentines person turned to integer currencies successful caller years arsenic a hedge against precocious inflation, which has travel down from the erstwhile eye-popping triple digits.
The nation's cardinal slope is considering allowing accepted banks to commercialized crypto, section paper La Nacion reported past week.
(Reporting by Kylie Madry; Editing by Kirsten Donovan)
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