Swiss full-service provider in the blockchain and DLT sector Cryptix AG has completed the acquisition of Blocktrade, a Liechtenstein digital asset platform.
As part of this acquisition, the team of the Vaduz-based company remains with Blocktrade and will be expanded in the coming months. In the future, both companies want to grow the existing structure and features of the digital asset exchange. The acquisition will not affect customers, who can continue to use the services and rely on the high quality and security standards of the platform.
"Cryptix enables us to find new talents within a short time. The additional funding will allow us to not only drive the development of our platform but also complete the licensing process," said Luka Gubo, CEO of Blocktrade.
With this acquisition, Cryptix welcomes another key player to its ranks. As a next milestone that will be set in motion by the end of 2019, the Cryptix Group will apply for a MiFID II investment firm license, with which they can operate as a Multilateral Trading Facility (MTF). This will enable Cryptix's partners to make full use of Blocktrade's services without having to apply for their own license.
The two companies have already started to collaborate on a first internal project that is currently in the development phase. To implement all the new opportunities, Cryptix and Blocktrade plan on increasing their headcounts in the coming months, and they have already started with the recruitment process.
A version of this article was first published by Investment Europe, a sister title to International Investment.