Cryptix AG, a provider of services in the blockchain and DLT sector, has acquired digital asset exchange Blocktrade. Cryptix is based in Switzerland and Blocktrade is based in Lichtenstein.
Details of the acquisition were not provided.
Cryptix said the acquisition will not affect existing customers and their intent is to expand services in the coming months.
Luka Gubo, CEO of Blocktrade, said the additional funding will allow the company to not only drive the development of the platform but also help complete the licensing process.
Cryptix stated that it 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.
Bernhard Koch, chairman of the board of directors of Cryptix Holding, said they will now be able to offer SMEs completely new financial services through this project.
“In addition to the regulated trading of securities, we will also help them to raise funds in a revolutionarily easy way,” said Koch.
The two companies are said to have already started to collaborate on a first internal project that is currently in the development phase.
In the past, Blocktrade has reported partnerships with Tokeny and Neufund. It is not immediately clear how the acquisition will impact these partnerships.