What Nash is
Nash is a European fintech company founded in 2017 by five open-source developers (including Fabio Canesin and Ethan Fast), born as Neon Exchange (NEX) in the NEO ecosystem. Its distinctive feature is the non-custodial model: investing, exchanging and payments take place without Nash ever holding users' funds, thanks to an off-chain matching engine paired with on-chain settlement. Over the years the product has evolved from a decentralised exchange into a cryptocurrency investment and savings app with fiat ramps. It was the first crypto platform registered by Liechtenstein's FMA; today the operational structure is in the Netherlands and it is still active; its latest public report is the one on the first quarter of 2026, published on 31 March 2026 (Verified: October 2026). The company is led by co-founder Fabio Canesin, CEO and public face of the business; the other co-founder Ethan Fast left his operational role in February 2022, moving to an advisory position.
Regulation and licences
(Verified: September 2026)
- MiCA: APPLICATION IN PROGRESS — Nash Exchange B.V. has submitted a CASP authorisation application to the Dutch authority AFM. In its latest public update, the report on the first quarter of 2026 released on 31 March 2026, the company wrote that the review was still under way and gave no indication of timing. As of October 2026 Nash does not appear in the ESMA register of authorised CASPs. (Verified: October 2026)
- The historic registration with Liechtenstein's FMA was relinquished as part of the transition to MiCA: the infrastructure was migrated to the Netherlands.
- Practical consequence: pending the licence, the fiat ramp (Nash Fiat Ramp) and the Nash Earn yield service are not available, as the company's website indicates. In the European Union, operations therefore remain limited until the licence is granted. (Verified: October 2026)
Security
The non-custodial model structurally reduces the risk typical of centralised exchanges: there is no corporate "vault" of customer funds to be emptied, and indeed there are no breaches of user funds in the platform's history. The risks inherent to self-custody remain (key management by the user), as do smart contract risks.
Alternatives
- SwissBorg — a European crypto investment app
- Kraken — for those who prefer a centralised exchange with a full MiCA licence
FAQ
Is Nash still active? Yes: the company is operating and on 31 March 2026 it published its report on the first quarter, in which it announced a new version of the app. Pending the MiCA licence, however, the fiat ramp and Nash Earn are suspended (Verified: October 2026).
Does Nash have a MiCA licence? Not yet: the application submitted to the Dutch AFM is still under review and Nash does not appear in the ESMA register of CASPs. In the meantime the fiat ramp and Nash Earn are not available (Verified: October 2026).
Verified sources
- https://nash.io/
- https://nash.io/q1-2026/
- https://www.esma.europa.eu/sites/default/files/2024-12/CASPS.csv
- https://nash.io/nash-year-end-report-2025-what-we-shipped-what-we-rebuilt-and-what-comes-n
- https://nash.io/q3-2025/
- https://neonewstoday.com/general/nash-co-founder-ethan-fast-steps-down-to-advisory-role-fo
- https://casptracker.eu/
