Nexo launches USD accounts to simplify crypto integration

Nexo has introduced Personal USD Accounts, allowing customers in over 150 countries to manage USD transfers directly through accounts registered in their name.

Personal USD Accounts allow users to deposit and withdraw funds without the need for brokerage accounts. Integrated with the global financial messaging system SWIFT, these accounts support secure cross-border transactions, according to a press release shared with Crypto.news.

Nexo now supports multi-currency management by offering personal accounts in Euros and British Pounds, providing users with a unified platform to manage their finances.

Bridging crypto and TradFi

According to the statement, this initiative aims to offer institutional and high-net-worth clients a transparent and effective way to manage digital and fiat assets.

For crypto users, this simplifies the historically complex process of transferring funds between traditional banks and crypto platforms, which often involves multiple steps and fees. Nexo’s approach alleviates these challenges by creating a direct connection between users’ bank accounts and crypto accounts.

The service is especially useful for businesses and individuals operating in different regions. Cross-border transactions, often hindered by changing regulatory frameworks, can now be facilitated through Nexo’s SWIFT integration.

This feature meets the needs of a broader financial environment where adoption of digital assets is increasing among companies and individual investors. Nexo also plans to offer domestic transfer options, including ACH and domestic wire services in the United States, in the future.

Elitsa Taskova, Nexo’s Chief Product Officer, described the initiative as a milestone that bridges traditional finance and the digital asset industry. He emphasized the importance of providing simplicity and security to users who manage wealth in both systems.