Nexo Extends Decision to Acquire Competitor Vauld
Cryptocurrency lending platform Nexo has once again extended due diligence to make a decision on the acquisition of its competitor Vauld.
The company started a 60-day study of a potential deal on July 5. Last month, the company decided to extend the period for another month. According to a source, this time Nexo did not set the deadlines and the check will go on “as long as necessary.”
The company’s managing partner, Kalin Metodiev, has previously confirmed the extension of the period during the AMA session. He has noted that any problematic transaction is “not easy:”
“I’m happy to report that our leadership meetings at Vauld are going very well. We feel that we see this movement forward in a very similar way: we not only care about how to help people immediately recoup their losses, we also have a plan for how this can happen over a longer period of time.”
