Nexo To Acquire Its Rival Crypto Lender Vauld

July 6, 2022 World Blockchain

The London-based Nexo company has signed an indicative term sheet to potentially acquire its rival crypto lender Vauld, after abruptly suspending customer withdrawals, deposits and trading.

Nexo said it has a 60-day exclusive due diligence period in which to decide whether it will acquire up to 100% of Singapore-based Vauld.

In an exclusive interview with the block, the co-founder and managing partner of the Nexo company Trenchev said,’’ We have to see what exactly is on their books and it’s going to take a little while. “But since we have the exclusive exploratory period, we are the only ones looking at them right now.”