Nexo says its products remain available across the European Economic Area after switching key regulated functions to two German MiCA-authorised firms — a move that keeps customers trading and holding crypto in the EU while avoiding an outright suspension.
What happened
- On July 28 Nexo announced that it is operating in the EEA through a partner model: Tangany handles custody, and DLT Finance (the operating name of DLT Securities GmbH) provides brokerage and execution infrastructure. Nexo’s public statement says this arrangement completed a testing phase without disrupting customer access.
- Nexo itself does not claim a MiCA crypto-asset service provider authorisation. Instead, the regulated custody and trading activities are carried out by the two German partners that hold the necessary permissions.
Who does what
- Tangany: Holds EEA client crypto-assets via Munich-based custody infrastructure. Tangany received its MiCA licence in September 2025 covering custody, transfers and staking — and can passport those services across the EU.
- DLT Finance / DLT Securities GmbH: Listed as a German MiCA-authorised provider for exchanging crypto-assets, executing orders and placing crypto-assets, and also operates as an investment firm under MiFID II. Under the deal it supplies brokerage and execution services to Nexo’s platform.
Why this matters
- MiCA compliance deadline pressure: The EU’s Markets in Crypto-Assets (MiCA) regime phased in from 2023 (stablecoin rules from June 30, 2024; the remaining rules from December 30, 2024). The final EU-wide transition period ended July 1, 2026, after which firms offering covered crypto services in the EEA must hold MiCA authorisation or stop those activities. That deadline forced some unlicensed platforms to wind down or transfer customers.
- Nexo’s partner-led model let it keep covered services available in the EEA rather than pause operations. It effectively separates the customer-facing wealth platform (still run by Nexo) from regulated custody and execution functions performed by authorised German entities.
- This model is not unique: Kraken previously entered Germany through a partnership with DLT Finance. As MiCA raises compliance, capital and staffing requirements, similar partnerships, acquisitions and consolidation could increase across Europe’s digital-asset sector.
Important distinctions for users
- Nexo’s EEA site states custody, trading and futures are provided through Tangany and DLT Finance under their MiCA/MiFID authorisations. However, products such as Earn rewards and crypto-backed loans are offered under different terms and lie outside those partner permissions.
- MiCA does not currently form a complete regulatory framework for crypto lending, staking and some DeFi activities — European lawmakers are already considering whether to extend rules to these areas.
- Nexo says all its existing services remain available in the EEA, but customers should verify the legal entity and terms for each product because regulatory protections differ between custody, trading, rewards and credit services.
What’s next
- No new launch date or migration was announced. The immediate step is continued operation under the new structure, with Tangany and DLT Finance responsible for their authorised functions.
- Regulators and ESMA advise customers to consult the MiCA register to confirm which legal entity holds authorisation for the specific services they use — authorisation attaches to named legal entities, not to a global brand or every product inside a single app.
Bottom line
Nexo’s move illustrates a growing trend: crypto platforms keeping their brand and user experience while outsourcing regulated functions to EU-licensed infrastructure. That approach helps firms stay in-market after MiCA’s transition, but it requires users to pay attention to which legal entity actually holds the permissions and what protections apply to each product.
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