Nexo Considers Buying Troubled Vauld: Report
Main page News, business, Crypto Market

Crypto lender Nexo is considering acquisition of Singapore-headquartered competitor Vauld, Reuters reports.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

The company reportedly wants to buy up to 100% of Vauld and "reorganize its future operations with the aim to accelerate its deeper presence in Asia." However, financial terms of the deal remain unclear.

Vauld Raises $25M in Round Led by Peter Thiel's Valar Ventures

Backed by Peter Thiel-backed Valar Ventures, Coinbase Ventures and Pantera Capital, Vauld earlier raised about $25 million. That funding, however, did not help much as the company previously laid off about 30% and suspended services, citing financial challenges.

Vauld's head Darshan Bathija said that financial difficulties of the company's "key business partners" also affected its business. He declined to name the partners' name though.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error