Exclusive

Nexo once again extends due diligence period on potential Vauld deal

Quick Take

  • Nexo has once again extended its exclusive due diligence period on a potential Vauld deal.
  • A source tells The Block that Nexo is “cautiously optimistic” about the deal.

Crypto lender Nexo has again extended the due diligence period to decide on its potential acquisition of Vauld, an embattled rival, a person with direct knowledge of the matter told The Block.

Nexo initially signed a 60-day exclusive due diligence agreement with Vauld on July 5, a day after Vauld halted client withdrawals. That agreement was extended by 30 days last month and it expired last week.

Now the new extension would be "as long as needed," the person said, adding that Nexo is "cautiously optimistic" about the potential deal after meeting Vauld's executives in Singapore.

Last week, Nexo co-founder Kalin Metodiev