Cryptocurrency financier Nexo announced that it has agreed to acquire Argentina-based crypto investment platform Buenbit for an undisclosed amount as it expands its presence across Latin America.
The deal will allow Nexo to operate under Argentina’s regulatory framework and leverage Buenbit’s user base in Argentina and Peru, the Zug, Switzerland-based lender said in a statement shared with CoinDesk.
Buenbit, registered with Argentina’s National Economic Commission (CNV), provides fiat-to-crypto services in a market where inflation and currency controls are commonplace, making it a key player in crypto adoption in the region. The deal with Nexo brings that local experience into a massive infrastructure that spans more than 150 jurisdictions and manages $11 billion in assets.
For Buenbit customers, this transition means access to a wider range of services. These include cryptocurrency-backed loans, high-yield savings accounts, and trading tools that serve as an alternative to limited traditional credit, such as in Argentina.
Buenos Aires will serve as Nexo’s Latin American headquarters and anchor planned growth into Mexico and Peru. The company said the deal is part of a multi-year strategy to develop long-term investments and partnerships across the region.
The move comes as Argentina’s central bank drafts new rules that will allow banks to offer crypto-related services to their customers in the first half of next year. Regulatory approval is still pending.