Crypto lender Nexo said it agreed to acquire Argentina-based crypto investment platform Buenbit for an undisclosed amount as it deepens its presence across Latin America.

The deal will allow Nexo to operate under Argentina’s regulatory framework and tap into Buenbit’s user base in that country and in Peru, the Zug, Switzerland-based lender said in a statement shared with CoinDesk.

Buenbit, registered with Argentina’s Comisión Nacional de Valores (CNV), has become a key player in the region’s crypto adoption, offering fiat-to-crypto services in markets where inflation and currency controls are routine. The Nexo deal folds that local experience into its larger infrastructure that spans more than 150 jurisdictions and manages $11 billion in assets.

For Buenbit customers, the shift means access to a broader range of services. These include crypto-backed loans that serve as an alternative to limited traditional credit in places like Argentina, high-yield savings accounts and trading tools.

Buenos Aires will serve as Nexo’s Latin American headquarters, anchoring its planned growth into Mexico and Peru. The firm said the deal is part of a multiyear strategy to develop long-term investments and partnerships across the region.

The move comes as Argentina’s central bank drafts new rules to allow banks to offer customers cryptocurrency-related services in the first half of next year. Regulatory approval is still pending.