Cryptocurrency lender Nexo has paved the way for its expansion in the U.S. after purchasing a stake in Hulett Bancorp, which owns federally-chartered Summit National Bank, it said Tuesday in a release.Swiss-based Nexo said it can now open bank accounts with Summit National Bank, which is regulated by the Office Comptroller of the Currency, in addition to offering crypto-backed loans and custodial solutions to its U.S. retail and institutional clients.The size of the stake was not disclosed. Nexo did not immediately respond to a request for comment by Seeking Alpha.Earlier in September, Nexo launched a trading platform for retail clients.
