Major cryptocurrency lender – Nexo – is looking to buy Singapore-based digital asset exchange – Wold.
- According to a document shared with cryptopotato, Nexo and Wald signed a 60-day special search period focused on a potential acquisition of the latter. If this agreement is successful, Nexo will own up to 100% of the platform.
- Wald has been heavily affected by the current bear market. Last month, it said it would lay off 30% of its total workforce, while earlier this week, it suspended trading and withdrawals on its platform.
- Connecting with Nexo can reduce exchange issues and ensure the safety of its customer base. Speaking on the matter was Darshan Bathija – Co-Founder and CEO of Wald:
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“Operating under the Nexo umbrella immediately positions us in a position of strength to continue execution of our fiduciary obligations to our customers as well as to execute on both companies’ ambitious roadmaps, regardless of market conditions.”
- For her part, Tatiana Matodieva – Nexo’s head of corporate finance and investments – argued that crypto’s big players will emerge from turbulent times because they have “competitive strength, discipline and unshakable responsibility to clients”.
- She also said that Nexo sympathizes with all affected firms due to the current market slowdown and is ready to hold talks with them to optimize their operations and guide them through the crisis.
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