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Nexo puts recent woes behind it with Middle East license approval
The company must now navigate through the subsequent phases — obtaining a preparatory license followed by the final operating license — to fully offer its crypto services to regional clients. Cryptocurrency lending platform Nexo is looking to set aside its problems in Bulgaria and the United States after its Dubai entity received initial approval from the emirate’s Virtual Assets Regulatory Authority (VARA). Kalin Metodiev, co-founder and managing partner at Nexo, described the initial approval to Cointelegraph as a “stepping stone for our ongoing global expansion resulting in now seven million clients across the world.” He added:“Throughout the years, Nexo has demonstrated remarkable growth in its client base, and the only way to achieve this is through our sustainable operations and worldwide licensing, prudent risk management, and institutional-grade security.” Source - Coin Telegraph
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