Business Wire

Nexo Passes Real-Time Reserves Audit Conducted by Armanino

Share

Nexo, the leading institution for digital assets, today announced that Armanino LLP – a PCAOB-certified auditor and one of the 25 largest public accounting firms in the U.S. – now provides a real-time audit of Nexo’s assets, thus offering unparalleled visibility into Nexo’s finances and showing that the company’s assets exceed its liabilities at all times.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210923005619/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

A snapshot of Nexo's assets and liabilities as of September 23, 2021. (Graphic: Business Wire)

Armanino’s real-time attestation of Nexo’s assets and customer obligations brings a level of customer security unprecedented in the crypto lending space. The independent audit also represents a significant milestone in Nexo’s transparency and compliance journey and marks only the beginning of a routine Proof of Reserves program. The next step will allow each client to verify for themselves that their particular assets are included in the daily reports.

The third-party audit, coupled with the company’s proactive stance on regulation and years of following the traditional licensing procedures around the globe, is testimony to Nexo's resolve and ability to adapt to changing circumstances and to best protect and serve its clients’ interests. This positions the company ahead of the curve as it gears up to join the prime brokerage race, launch its asset management division, and welcome institutional demand as one of the most secure, progressive, and compliant businesses.

Armanino’s TrustExplorer© attest platform will provide enhanced visibility into Nexo’s underlying assets of its Borrow and Earn Crypto Interest products through viewable and downloadable attest reports that are generated and updated daily.

You can view the real-time audit on the Nexo attest report page:

https://real-time-attest.trustexplorer.io/nexo

“In the long run, the companies that provide their customers the necessary transparency, security and peace of mind, will win. Amidst increased regulatory interest in the cryptocurrency industry, we at Nexo are setting the bar so as to prove to our clients and investors that the assets entrusted to us are indeed in good hands, a testament to which is the independent audit by Armanino. We challenge other lenders and crypto leaders to follow our lead,” commented Antoni Trenchev, Co-founder and Managing Partner of Nexo.

"As innovative companies like Nexo create the next generation of financial products and enable customer-first offerings, Armanino knows that attest tools must keep up with the pace of innovation,” said Noah Buxton, Managing Director and Practice Leader of Armanino’s Blockchain & Digital Assets Practice. “After a lot of mutual hard work and breaking of new ground, we are excited to unveil another world-first for the crypto and digital assets market. Meaningful transparency, on-demand, and unpermissioned. This is the new paradigm.”

For businesses in the financial sector, customer trust is a foundational block and showing reserves are fully backed goes a long way in further enhancing that trust. With the latest in the #NexoTransparency campaign, Nexo is pleased to be one of the first crypto lenders to tap the innate auditability of cryptocurrencies and to set an example for others in the crypto industry to follow.

About Nexo

Nexo is the world's leading regulated digital assets institution. The company’s mission is to maximize the value and utility of cryptocurrencies by offering tax-efficient Instant Crypto Credit Lines™, a high-yield Earn Crypto Interest suite, an instant Exchange service, and sophisticated trading and OTC capabilities, while providing the top-tier custodial insurance and military-grade security of the Nexo Wallet. Nexo has processed $50+ billion for 2,000,000+ users across more than 200 jurisdictions.

Official website: https://nexo.io

About Armanino LLP

Armanino LLP ( www.armaninollp.com ) is one of the 25 largest independent accounting and business consulting firms in the nation. Armanino provides an integrated set of audit, tax, business management, consulting and technology solutions to companies in the U.S. and globally. The firm helps clients adapt and change in every stage of business, from startup through rapid growth to the sale of a company. Armanino emphasizes smart technology, leading a cloud revolution of financial, operational, sales and compliance tools that are transforming the way companies do business. The firm extends its global services to more than 100 countries through its membership in Moore Global, one of the world's major accounting and consulting membership organizations. In addition to its core consulting and accounting practices, Armanino operates its division, AMF Media Group (www.amfmediagroup.com), a media and communications services agency. Its affiliate, Intersect Capital ( www.intersectcapitalllc.com ) is an independent financial planning, wealth and lifestyle management firm.

More information on Real-Time Attest:

https://www.armaninollp.com/software/trustexplorer/real-time-attest/

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Media contact for Nexo:
Stella Zlatareva
Nexo PR Team
pr@nexo.io

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Janssen Receives Positive CHMP Opinion for RYBREVANT® (amivantamab) for the Treatment of Patients with Advanced Non-Small Cell Lung Cancer with EGFR Exon 20 Insertion Mutations After Failure of Platinum-Based Therapy15.10.2021 19:30:00 EEST | Press release

FOR EU TRADE AND MEDICAL MEDIA ONLY. NOT TO BE DISTRIBUTED TO UK AND BENELUX BASED MEDIA The Janssen Pharmaceutical Companies of Johnson & Johnson announced today that the Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion, recommending the granting of a conditional marketing authorisation for the medicinal product amivantamab, intended for the treatment of adult patients with advanced NSCLC with activating epidermal growth factor receptor (EGFR) exon 20 insertion mutations, after failure of platinum-based therapy.3 If approved, amivantamab will be the first treatment in the European Union specifically targeting EGFR exon 20 insertion mutations for advanced NSCLC.1 “This group of patients often face a poor prognosis as there are currently no targeted therapy options for this specific mutation nor does it typically respond to existing therapies used to treat more common EGFR mutations,” 1,4,5 commented Catherine Taylor, M.D., Vice President, Medical Affairs

Leading Researchers Present 24-Plex Digital PCR Assay and Novel Multiplex Applications Uniquely Enabled by Stilla’s 6-Color naica® system15.10.2021 16:08:00 EEST | Press release

Stilla Technologies, the multiplex digital PCR company, joined researchers from SAGA Diagnostics in presenting a 24-plex digital PCR assay generated on Stilla’s six-color naica® system. To mark the platform’s global commercial launch at the American Society of Human Genetics (ASHG) 2021 Virtual Meeting, Stilla’s Cofounder and Chief Technology Officer Rémi Dangla, PhD, and researchers from SAGA Diagnostics, Fred Hutchinson Cancer Research Center, and University of Athens highlighted the new data during a discussion on how highly sensitive, multiplex digital PCR technology is transforming complex genomic data into actionable insights across a breadth of research and clinical applications. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211015005140/en/ Stilla’s six-color naica® system, the industry’s first six-color digital PCR system, answers market needs for higher performance and multiplexing technology. Learn more here: www

Boston Metal Wins S&P Global Platts Global Metals Award15.10.2021 16:04:00 EEST | Press release

Boston Metal won the New Technology for the Metals and Mining Industry award at the 2021 S&P Global Platts Global Metals Awards. Boston Metal is commercializing ground-breaking technology to decarbonize primary steelmaking. The company’s technology combines patented innovations with best practices from the aluminum and steel industries to deliver a revolutionary solution to the carbon emissions challenge facing the steel value chain. Powered by renewable electricity, molten oxide electrolysis converts iron ore into liquid metal and oxygen. The modular, scalable platform produces no CO2 emissions, is highly energy efficient, and works with a wide range of iron ore grades. “We congratulate all the winners and finalists for persevering through unique challenges and continuing to drive performance while embracing change,” said Saugata Saha, president of S&P Global Platts. Dave Ernsberger, Global Head of Pricing and Market Insight, S&P Global Platts, said: “Not surprisingly, but certainly e

The Ministry of Justice makes public the evidence supporting of the Republic of Kazakhstan’s case against Anatolie and Gabriel Stati15.10.2021 14:46:00 EEST | Press release

The Ministry of Justice has launched a new website to spotlight evidence gathered by the Republic of Kazakhstan regarding the fraud committed by Anatolie and Gabriel Stati: www.kzarbitration.com. The purpose of the website is to present the facts of the ongoing and complex legal case and provide easy access to the corresponding evidence. This public repository will increase transparency around the case and dispel the disinformation and lies perpetrated by these individuals against the Republic of Kazakhstan and its people. The evidence - in the form of court rulings, expert opinions, and other publicly available documents - confirms that the Statis have been engaged in a complex and multi-faceted fraud since at least 2006. The website explains how Anatolie and Gabriel Stati defrauded international investors of their money, falsified financial statements, fraudulently obtained audit opinions and pursued an international arbitration against the Republic of Kazakhstan to recoup from the S

TP Awards Schlumberger Sakarya Offshore Gas Field Phase-1 Contract15.10.2021 14:00:00 EEST | Press release

Schlumberger announced today a significant contract award by Turkish Petroleum (TP) for the engineering, procurement, construction and installation (EPCI) of end-to-end production solutions for the Sakarya gas field, Turkey’s largest gas reserve. The contract is awarded to Schlumberger and Subsea 7, as part of a consortium. The integrated project scope will cover subsurface solutions to onshore production, including well completions, subsea production systems (SPS), subsea umbilicals, risers, flowlines (SURF), and an early production facility (EPF). Schlumberger will deliver the well completions scope and the design, construction, and commissioning of the early production facility capable of handling up to 350 MMscfd of gas. The SPS and SURF scope will be delivered by OneSubsea®, the subsea technologies, production, and processing systems division of Schlumberger, and Subsea 7. “Schlumberger is uniquely positioned to integrate solutions from the subsurface to the processing facility, a

Pony.ai to Start Driverless Tests on Public Roads in Beijing15.10.2021 10:00:00 EEST | Press release

Silicon Valley-based leading autonomous driving company Pony.ai, today announced that it has been authorized to conduct driverless tests on public roads in China’s capital city, Beijing. The company is one of the two autonomous software companies to receive this important Beijing permit. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211015005137/en/ Driverless tests on public roads in Beijing (Photo: Business Wire) Prior to receiving this driverless test permit in Beijing, Pony.ai received a permit to conduct tests on certain sections of Beijing highways in July 2021. The company was among the first group to obtain this permit. In Beijing, Pony.ai is now authorized to conduct driverless testing in an area of around 20 square kilometers in a pilot zone for autonomous driving vehicles. The area covers major subway stations, residential areas, and tech parks, which allows Pony.ai to test its autonomous technology in the most c

Announcing the 2021 .eu Web Awards Winners!15.10.2021 10:00:00 EEST | Press release

Last night the 2021 .eu Web Awards ended in epic fashion at the Teatro Antico in Taormina, Italy. Hosted by EURid, the .eu Web Awards are a competition for the best .eu, .ею and .ευ websites. After last year’s virtual only event, we were pleased to once again celebrate the finalists and winners in person. View the hybrid event here. Hosted by Sally Bundock, esteemed journalist for BBC world news, the gala night brought us sincere joy reflected by the winners, combined with amazing performances by featured artists like THePETEBOX, Women Orchestra, MM Dance Company, Compagnia Joculares and the GAP’s Orchestra. The magical event ended with fireworks. “Being able to see real faces and raw emotion conveyed by the guests again made the night unforgettable” noted Giovanni Seppia, EURid’s External Relations Manager. “This is what the Web Awards is all about, bringing together people from various industries and backgrounds and honouring them for having chosen a .eu for their online presence.” P

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom