Crypto lender Nexo recently acquired a minority stake in Summit National Bank.
It's a traditional U.S. federal bank regulated by the Office of the Comptroller of the Currency, like all U.S. banks. This move will help it expand its ability to serve the U.S. market, allowing Nexo to offer traditional financial services such as bank accounts, lending and card services for retail and institutional customers. It also allows Nexo to combine these traditional services with crypto services.
