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Nexo expands LATAM presence with Buenos Aires hub, driven by strong local stablecoin usage
Nexo’s General Manager in Argentina, Andrés Ondarra, discussed with DefiLlama Research why Buenos Aires was chosen as the company’s Latin America hub, highlighting Argentina’s mature stablecoin user base and its influence on Nexo’s local product development and expansion plans.
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In a conversation with DefiLlama Research, Nexo’s General Manager in Argentina, Andrés Ondarra, explained why Buenos Aires was chosen as the hub for the company’s Latin America operations. The report highlights Argentina’s mature and active stablecoin user base, with data showing approximately 8.6 million crypto users in 2024 and stablecoins accounting for the majority of local crypto transactions. Nexo’s expansion leveraged the acquisition of Buenbit to address regulatory and market entry requirements, followed by product adaptations such as launching digital-dollar rails and a stablecoin-based savings account. Buenos Aires now serves as a launchpad for Nexo’s further growth in the region, with plans to replicate the Argentine model in other South American markets like Peru and Mexico.
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Nexo is a cryptocurrency exchange and financial platform established in 2018, offering integrated services for digital asset management, including custody, exchange, and crypto-backed lending within a single application. Key features include support for a broad range of digital and fiat assets, an integrated digital wallet, daily interest accruals on flexible savings, and the Nexo Card for crypto-secured transactions. For more details on its services and regulatory status, see the broker profile on Traders Union.
In an earlier news article, Traders Union reported on Nexo spotlighting the return of the Formula 1 race to Madrid and detailing its partnership with the Audi F1 team. For more information, read the previous Nexo update on Traders Union.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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