Singapore High Court Grants Crypto Lender Vauld Temporary Protection From Creditors

Singapore High Court Grants Crypto Lender Vauld Temporary Protection From Creditors


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 major player in the crypto lending market.

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Justice Aedit Abdullah approved a moratorium until Nov. 7 during a court hearing on Monday. During said period, Vauld’s 147,000 creditors will be barred from taking legal action against it.

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