Crypto Lending

California regulators have fined crypto lender Nexo $500,000 for issuing thousands of loans without a required license, creating a setback for the firm's plans to resume U.S. operations.

California’s financial regulator fined Nexo $500,000, alleging the crypto lender made nearly 5,500 loans to state residents without a valid license and failed to assess borrowers’ ability to repay. The action underscores growing regulatory scrutiny of crypto lending products.

Crypto exchange Lemon rolled out a Visa credit card in Argentina that lets users lock BTC as collateral to obtain peso credit lines without selling their coins.

Nexo has agreed to acquire Argentina-based Buenbit, gaining access to its user base and local on-ramps. The deal enables Nexo to offer crypto-backed loans, high-yield savings and trading tools to Buenbit customers.

Texas-based Monet Bank has shifted its business model to serve cryptocurrency and digital asset firms, positioning itself as a dedicated crypto lender. The change aims to expand tailored credit and banking options for the growing crypto industry.

Blockrise has been granted a MiCA license in the Netherlands, enabling regulated Bitcoin custody and trading and paving the way for BTC-backed loans to EU businesses. The approval gives the firm a compliant onshore base to develop business lending products using Bitcoin as collateral.