Nexo strengthens its presence in Colombia by joining the Colombia Fintech Association as the demand for its crypto-yield products rises by 73%. How this strategic move supports Nexo’s mission to provide innovative digital asset solutions in one of Latin America’s fastest-growing fintech markets.
Nexo, a key player in the digital asset space, has announced its strategic membership in the Colombia Fintech Association. This decision aligns with Nexo’s recent growth, as the company has seen a 73% increase in Colombian clients using its crypto-yield products. The move highlights Nexo’s expansion into Colombia’s rapidly developing crypto sector.
Joining the Colombia Fintech Association, which includes more than 360 companies and 9,000 professionals, enables Nexo to integrate more closely with the local financial sector. Colombia’s fintech landscape is growing, driven by a rising middle class, thriving startups, remittances, and the increasing demand for stablecoins—factors that create opportunities for Nexo’s services.
Nexo’s Impact in Colombia
Since August 2023, Nexo has experienced a notable 73% year-over-year increase in Colombian clients utilizing its crypto-yield products. The country’s demand for stablecoins, along with its tech-savvy population, makes it a prime market for Nexo’s high-yield digital assets. To further emphasize its commitment, Nexo Ventures, the company’s investment arm, has supported Zulu, a local PayTech startup that processes over $100 million in international payments.
“Joining the Colombia Fintech Association aligns perfectly with Nexo’s mission to democratize wealth building,” said Elitsa Taskova, CPO of Nexo. “Colombia presents a unique opportunity: with an astounding 92.1% of the population already having access to crypto-related services, the country is making a notable leap towards digital finance. Nexo is ideally positioned to offer our user-friendly, comprehensive digital asset solutions. We’re not just entering a market; we’re empowering millions of Colombians with accessible digital asset tools and shaping the future of finance in Latin America.”
“We are thrilled to welcome Nexo as the first European Fintech to join Colombia Fintech. Their arrival highlights the growing global recognition of our ecosystem and reinforces our mission to drive financial innovation in Colombia. We look forward to the opportunities this partnership will bring and the new synergies it will foster within the market.” María Mercedes Agudelo, VP of Operations at Colombia Fintech.
Future Growth and Market Potential
Nexo’s partnership with Colombia Fintech marks a significant step in its growth strategy. The company has already issued over $34 million in credit and paid out $1.5 million in crypto-yield to Colombian users. While these figures represent a fraction of Nexo’s global operations, they demonstrate strong demand for digital asset services in Colombia.
Looking ahead, Nexo plans to introduce more tailored products for the Colombian market, with a goal of doubling its client base in the next 12 months. This growth will pave the way for further innovations and enhance the financial ecosystem for Colombian consumers.
About Nexo
Nexo is a global leader in the digital assets industry, dedicated to enhancing the value and utility of cryptocurrencies. Nexo offers a wide range of services, including advanced trading platforms, crypto-backed credit lines, and high-yield savings accounts for digital assets. Serving over 7 million users in more than 200 regions worldwide, Nexo has processed over $130 billion in digital asset transactions. To learn more about how Nexo is revolutionizing digital finance, visit nexo.com.
About Colombia Fintech
Colombia Fintech is the leading fintech association in Colombia, representing over 250 innovative companies in the country’s growing financial technology sector. For over four years, the association has played a key role in driving the development of digital financial services. Its mission focuses on advancing investment, talent, and digital financial inclusion through strategic initiatives and collaboration within the fintech ecosystem. Colombia Fintech aims to strengthen the country’s financial landscape by promoting knowledge sharing and positioning strategies that foster growth and innovation in the digital finance sector.
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Publish date : 2024-09-26 07:01:00
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Author : theamericannews
Publish date : 2024-09-26 18:06:35
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