Darshan Bathija Singapore city Singapore cryptocurrency Nexo Vauld Darshan Bathija Singapore city Singapore

Singapore court grants three-month moratorium to Vauld

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A Singapore court on August 1, granted a three-month moratorium to cryptocurrency lending start-up Vauld till November 7, 2022.

Following demand letters from a few creditors, the judge further gave a deadline of four weeks to the company to explore mechanisms for withdrawal for creditors in need.All the creditors will get updated financial details on the Coinbase-backed company in another eight weeks, the court said in a virtual hearing.Vauld was earlier seeking a six-month moratorium from the court to strategise the company’s way out of its ongoing liquidity crunch and possible acquisition by London-based crypto lender Nexo.

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