Nexo splits EEA services to meet MiCAR using two German firms

Nexo has reorganized its operations in the European Economic Area to comply with the EU’s Markets in Crypto-Assets Regulation by routing services through two BaFin-regulated German firms. Custody and storage are handled by Tangany, while execution and brokerage services run through DLT Finance. The company said the change followed a testing phase and that EEA services continued without interruption.

Tangany holds a MiCAR license and provides custody infrastructure with segregated digital asset storage. DLT Finance is licensed under MiCAR and is authorised under MiFID II to provide brokerage and execution infrastructure for digital assets and related financial instruments. Nexo described the arrangement as a way to meet European operational and regulatory standards through regulated partners.

Yasen Yankov, Nexo’s chief product officer, said the firm prepared for MiCAR over an extended period and selected partners on strict criteria, calling them “rigorously regulated, technically sophisticated, and aligned with how we think about client protection.”

Eleonor Genova, head of communications at Nexo, added that clearer rules create a common benchmark for institutions and retail clients. She said a framework like MiCAR gives users a standard to measure platforms against and that companies building operations to match the rules are positioned to operate across the EEA.

Martin Kreitmair, CEO of Tangany, described the partnership as a practical example of institutional-grade custody and coordinated teams working together. Alan Kennedy of DLT Finance said the goal was to provide infrastructure that delivers a seamless experience across multiple products.

Nexo, which serves more than 10 million clients globally, ranks among the larger centralized crypto lenders. The firm projects that by 2026 European crypto users will concentrate on a smaller number of regulated EEA platforms that prioritise compliance and asset protection.

MiCAR sets a harmonised set of rules for crypto-asset services across the EU and EEA, covering custody, transparency and consumer protection. Nexo’s partner-based approach uses licensed German firms for custody and execution rather than a single direct MiCAR license while keeping services active for its European user base.