Nexo Joins Colombia Fintech as Native Crypto-Yield Purchasers Soar 73%

26 September 2024 – Nexo, the main establishment for digital belongings, at present introduced its strategic membership within the Colombia Fintech Association. This transfer comes as Nexo experiences a 73% surge in native purchasers, utilizing Nexo’s crypto-yield merchandise, underlining the corporate's vital growth into Colombia's flourishing crypto market.

Nexo's membership within the Colombia Fintech Affiliation, which incorporates over 360 modern firms and 9,000 professionals, will allow deeper integration into the nation’s dynamic monetary ecosystem. Colombia’s burgeoning Fintech scene—pushed by a rising center class, dynamic startup tradition, remittances, and demand for stablecoins—affords fertile floor for Nexo’s providers.

This strategic transfer follows a notable development noticed by Nexo since August 2023: a 73% year-on-year enhance in new purchasers from Colombia utilizing Nexo’s crypto-yield merchandise. Over the previous yr, Nexo has intently monitored this ripe market, the place the rising demand for stablecoins aligns completely with its high-yield digital asset choices. This development trajectory, coupled with a younger, tech-savvy inhabitants, underscores Colombia’s readiness to have interaction with and profit from Nexo’s modern, safe monetary options. Nexo's dedication to the Colombian market is additional exemplified by its funding arm, Nexo Ventures, which backed the profitable native PayTech startup Zulu. The agency has grown to course of over $100 million in worldwide funds for companies throughout a number of continents.

“Becoming a member of the Colombia Fintech Affiliation aligns completely with Nexo's mission to democratize wealth constructing,” stated Elitsa Taskova, CPO of Nexo. “Colombia presents a novel alternative: with an astounding 92.1% of the inhabitants already getting access to crypto-related providers, the nation is making a notable leap in the direction of digital finance. Nexo is ideally positioned to supply our user-friendly, complete digital asset options. We’re not simply getting into a market; we’re empowering tens of millions of Colombians with accessible digital asset instruments and shaping the way forward for finance in Latin America.”

“We're thrilled to welcome Nexo as the primary European Fintech to hitch Colombia Fintech. Their arrival highlights the rising international recognition of our ecosystem and reinforces our mission to drive monetary innovation in Colombia. We sit up for the alternatives this partnership will carry and the brand new synergies it'll foster inside the market.” María Mercedes Agudelo, VP of Operations at Colombia Fintech.

Nexo's collaboration with Colombia Fintech, a number one Latin American Fintech ecosystem, marks a big milestone in its growth. The corporate has already established a big presence in Colombia, issuing over $34 million in credit score and paying out $1.5 million in crypto-yield. These figures, whereas a fraction of Nexo's international operations, characterize a considerable footprint in Colombia's crypto market and reveal the urge for food for digital asset providers within the nation. 

Wanting forward, Nexo will leverage this partnership to introduce tailor-made merchandise for the Colombian market and goals to double its shopper base in Colombia over the subsequent 12 months, paving the way in which for impactful improvements that profit each the Colombian market and its individuals.

About Nexo

Nexo is the world's main digital belongings establishment. The corporate’s mission is to maximise the worth and utility of digital belongings by providing a complete suite of merchandise, together with superior buying and selling options, credit score traces backed by crypto belongings, and high-yield crypto accounts. Nexo presently serves 7 million customers throughout over 200 jurisdictions and has processed greater than $130 billion in digital asset transactions. For extra data, go to nexo.com.

Media Contact for Nexo: 

The Nexo Communications Staff – [email protected] 

About Colombia Fintech

Colombia Fintech is the Fintech Affiliation in Colombia that has been round for greater than 4 years and brings collectively greater than 250 firms from the nation's modern monetary ecosystem. The primary function of this affiliation is to inject new power into the digital monetary providers ecosystem by means of positioning methods, data, and capital that focus on three main fronts: funding, expertise, and digital monetary inclusion.