Lending Platform Vauld Raises $2M to Grow Into a Full Crypto Bank
Vauld, formerly called Bank of Hodlers, raised $2 million in a round led by Pantera Capital to expand its crypto banking platform.
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Singapore-based crypto bank Vauld is working hard to elevate crypto to the status of a separate, viable asset class. It combines the functionality of an exchange with all the essential offerings of a bank, except it’s for cryptocurrencies. Vauld Raises $2 Million The Vauld team just raised USD 2 million from Pantera, Coinbase Ventures, and CMT digital among others, over the last four months. “The investors loved that we were building to solve for banking with cryptocurrencies,” says CEO, Darshan Bathija. As the crypto market dominates financial news and gears up for what....
Leading cryptocurrency lender Nexo has offered to buy distressed competitor Vauld, which halted operations in the face of financial difficulties. The proposal comes after the Singapore-based company said it was exploring restructuring options. Nexo Secures Exclusive Agreement to Explore Vauld’s Acquisition Singapore-based crypto lending and trading platform Vauld, which announced suspension of withdrawals and other transactions for customers, has been offered a way out of its troubles. On Tuesday, major crypto lender Nexo unveiled it had signed an indicative term sheet with Vauld....
Vauld’s CEO has said that the crypto exchange is halting all trading, deposits, and withdrawals owing to financial difficulties. Vauld Suspends Withdrawal As it navigates “financial challenges,” Vauld, a Singapore-based cryptocurrency lending and exchange firm, has suspended withdrawals, trading, and deposits on its platform. The three-year-old firm, which has raised approximately $27 million from investors […]
On July 4, the crypto lending company Vauld announced it suspended withdrawals, trading, and deposits after disclosing the firm is “facing challenges.” While not naming any specific companies, the Singapore-based cryptocurrency lending platform and exchange mentioned “financial difficulties” stemming from “key business partners.”
Vauld Suspends Withdrawals Over ‘Financial Difficulties’
During the last 30 days, a number of cryptocurrency lending platforms have revealed that their finances are not very sound. For instance,....
Singapore-based Vauld will have some breathing space after the country’s High Court gave its parent company creditor protection for the next three months. The decision comes as the troubled crypto lending platform seeks acquisition by rival Nexo.
Vauld to Have 3 Months for Restructuring, Due Diligence by Nexo
The Singapore High Court has granted the parent company of crypto lender Vauld, Defi Payments Ltd., a three-month protection from creditors, Bloomberg reported, noting this would allow Vauld to restructure and prepare for a potential acquisition by competitor Nexo, a....