Nexo commits additional $50M to buyback initiative

Digital asset platform Nexo has committed another $50 million to its long-running buyback program after receiving support from the company's board of directors, according to details shared Tuesday.

The board's approval allows the crypto lender to make discretionary and periodic repurchases of native token NEXO, the firm announced.

With the $50 million commitment, Nexo is set to add to the $100 million buyback plan that the company launched in November 2021 and which ended in May this year.