Crypto lending and savings platform Nexo is updating its stablecoin services for users in the European Economic Area (EEA) to comply with new European Union regulations. The changes, which will be implemented in two phases, will affect trading, savings, and lending activities for stablecoins such as USDT, DAI, USDP, TUSD, and PAXG. Starting from March 10, 2025, users will be able to exchange these stablecoins for USDC at the market rate with no additional fees. New deposits in these stablecoins for fixed-term savings and automatic renewal will no longer be available, but existing deposits will continue to earn interest until maturity. Nexo will discontinue the opening of new investment strategies with USDT and will restrict new purchases of these stablecoins on their platform from March 31, 2025. However, users will still be able to trade and convert these stablecoins to other cryptocurrencies. Nexo will also introduce multi-asset collateral for futures trading, allowing users to use both USDT and USDC as collateral. Flexible savings for these stablecoins will be discontinued from March 31, 2025. Despite these changes, users will still be able to deposit and withdraw the affected stablecoins without restrictions. Nexo aims to ensure a smooth and secure user experience while aligning with European stablecoin regulations. Users are encouraged to prepare for the changes and explore conversion options to optimize their portfolios. Nexo will continue to monitor regulatory updates and inform its customers accordingly.



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