Nexo has introduced Personal USD Accounts, enabling clients in over 150 countries to manage U.S. dollar transfers directly through accounts registered in their names.
The Personal USD Accounts allow users to deposit and withdraw funds without the need for intermediary accounts. Integrated with SWIFT, the global financial messaging system, 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 release, this initiative aims to provide institutional and high-net-worth clients with a transparent and efficient way to handle 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 reduces these challenges, creating a direct connection between users’ bank accounts and crypto accounts.
The service is especially beneficial for businesses and individuals operating across different jurisdictions. Cross-border transactions, often hindered by varying regulatory frameworks, can now be streamlined through Nexo’s SWIFT integration.
This feature meets the needs of a broader financial landscape, where digital asset adoption is growing among corporations and retail investors. Nexo also plans to introduce domestic transfer options, including ACH and domestic wire services, in the U.S. in the future.
Nexo’s Chief Product Officer, Elitsa Taskova, called the initiative a milestone that bridges traditional finance and the digital asset industry. She highlighted its importance in providing simplicity and security for users managing wealth across both systems.
Read the full article here