PANews reported on December 11th that, according to CoinDesk, Swiss cryptocurrency platform Nexo announced its acquisition of Argentine trading platform Buenbit to expand its services in Latin America. This acquisition will grant Nexo regulatory status in Argentina and access to Buenbit's user base in Argentina and Peru.

The acquisition will allow Buenbit users to access Nexo's crypto-secured loans, high-yield savings accounts, and trading tools. Nexo also plans to establish its Latin American headquarters in Buenos Aires and further expand into Mexico and Peru.