Crypto lender Nexo plans to acquire rival Vauld amid crypto winter
Nexo to acquire Vauld and reorganize its future operations to accelerate its more profound presence in Asia
By Arghyadeep Dutta
Published - Jul 05, 2022, 03:01 PM ET
Last Updated - Jun 24, 2024, 12:17 AM EDT
• Vauld said it was facing financial challenges due to volatile market conditions following the collapse of TerraUSD
• Nexo to acquire Vauld and reorganize its future operations to accelerate its more profound presence in Asia
Crypto lender Nexo on Tuesday said it plans to buy rival Vauld, the latest news of consolidation in the digital currency industry as prices tumble.
London-based Nexo said it would buy up to 100% of Vauld and “reorganize its future operations with the aim to accelerate its deeper presence in Asia.”
