In a transformative move for the industry, Nexo has acquired a stake in US federally chartered Summit National Bank, becoming it
27 Sep 2022, 14:49
In a transformative move for the industry, Nexo has acquired a stake in US federally chartered Summit National Bank, becoming its preferred digital assets partner.
The deal further expands our US footprint, unlocking more innovative products at the intersection of traditional finance and blockchain technology for our American retail and institutional clients.
Our combined efforts will deliver services such as bank accounts, enhanced lending, card products, escrow, and custodial solutions, utilizing Summit National Bank’s regulatory safeguards and payment infrastructure.
Founded in 1984 and regulated by the Office of the Comptroller of the Currency, Summit National Bank is on a path to reinventing itself as a modern digital FinTech institution.
This landmark partnership, strengthened by the appointment of our Co-Founder Kalin Metodiev, CFA on Summit National Bank's board, will greatly enhance both institutions’ offerings on the quest to better unlock value for digital asset specialists in a compliant and beneficial manner.
Read more on the exciting development: Nexo Acquires Stake in US Bank