Nexo Achieves Regulatory Approval In Poland
Nexo announced its registration as a Virtual Assets Service Provider (VASP) in Poland with the Polish Ministry of Finance.
The scope of this approval allows Nexo to provide services in Poland involving the intermediation of exchanges between virtual currencies and fiat payment methods, as well as the administration of customer accounts, custody, and transactions.
Antoni Trenchev, Co-founder and Managing Partner of Nexo, stated:
“Our responsibility to both consumer markets and regulatory authorities is always top of mind, which is why we’re relentless in our pursuit of full compliance with both global and local jurisdictions.
We recognize the potential in the Polish digital assets space, and we’re delighted to be able to expand Nexo’s user-oriented solutions in the country. From another viewpoint, this formal relationship with the Ministry of Finance in Poland signals our dedication to the industry and active engagement with regulatory bodies.”
This breakthrough in Poland builds on the crypto-native FinTech’s long-standing efforts to strengthen its compliance infrastructure, as well as its recent registration as a Virtual Currency Operator with Italy’s Organismo Agenti e Mediatori (OAM).
Poland is one of the few jurisdictions actively developing regulatory standards for cryptocurrency operations, highlighting the country’s forward-thinking approach to blockchain finance. Nexo’s 360-degree product suite aims to capitalize on this potential and aid in crypto adoption.
Before that, the company was also moving away from the US market because of the harsh regulations of the government.
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