Lukka Acquires Blox Finance, a Cryptocurrency Accounting and Digital Infrastructure Provider

Lukka, an enterprise crypto-asset data and software solution provider, has acquired Blox Finance, the digital currency accounting, tracking and management software subsidiary of Blox, an ETH staking and decentralized infrastructure provider.

According to a release, Lukka has purchased Blox blockchain node infrastructure and intellectual property. The deal expands Lukka’s footprint of data management software and “increases the firm’s coverage in addition to and adding more redundancy to existing data sets enabling more advanced risk processes that will support Lukka’s well established institutional customer base,” the announcement noted.

The acquired assets will reportedly be brought under Lukka’s institutional-grade, AICPA SOC 1 Type II and SOC 2 Type II infrastructure “meeting the highest institutional standards.”

“The acquisition of Blox Finance and its node infrastructure is a natural fit for Lukka, adding to our expansive crypto data management capabilities and blockchain coverage,” stated Robert Materazzi, Lukka’s CEO.

Robert added that this strategic acquisition marks a key milestone that should help with accelerating that clients’ innovation rate as they trade across various crypto financial products. The Blox team has been “incredible to collaborate with and we are excited to explore other opportunities as well going forward,” Robert added.

Said Alon Muroch, Blox’s CEO, remarked:

“We could not have wished for a better company to take over the Blox Finance product suite and blockchain infrastructure services. Lukka’s acquisition allows us to handover our tech and expertise to a leader in the space. We have no doubt that Lukka will put our infrastructure to good use, and continue providing best-in-class Crypto back office solutions. Blox will shift its focus on developing decentralized ETH staking solutions and building the Secret-Shared-Validator network.”

The rise in institutional demand for reporting that focuses on on-chain and off-chain data sources, such as staking and decentralized finance (DeFi), “continues to drive significant transaction volumes across the ecosystem while creating complexities in the middle and back-offices of businesses.”

Increased regulatory scrutiny and maturation of crypto-business processes will “require firms to adopt institutional-grade data and software solutions to support the rapid need for accounting, reconciliation, and reporting capabilities for crypto assets.”

The announcement also mentioned that Lukka will continue to “grow its on-chain services to meet the needs of its institutional customer base.”

Their clients depend on institutional-grade tech infrastructure with a breadth of coverage across blockchains, exchanges, wallets, and other venues and data sources. The acquisition will also allow the firm to expand data offerings for their enterprise data clients

Sponsored
Sponsored Links by DQ Promote

 

 

Send this to a friend