Nexo has signed a term sheet with Vauld giving it 60 days of exclusive talks to explore an all-equity acquisition of the company.
If successful, Nexo said it plans to restructure the company and pursue an expansion in Southeast Asia and India. Vauld on Monday paused operations and said it was exploring restructuring options due to"financial challenges." Beleaguered cryptocurrency lender Vauld has been thrown a lifeline from larger competitor Nexo, in a sign of mounting consolidation in the crypto market.
Nexo said Tuesday it had signed a term sheet with Vauld giving it 60 days of exclusive talks to explore an all-equity acquisition of the company. If successful, Nexo said it plans to restructure the company and pursue an expansion in Southeast Asia and India.
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