Nexo signs term sheet with Vauld for potential acquisition
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.