LevelField Financial has acquired Netshares Financial Services, pending regulatory approval. Details on the acquisition were not provided. Netshares is a registered broker dealer.
LevelField is a financial services firm that aims to “unite traditional banking and digital asset products and services” on a single platform.
Netshares has long been a platform listing Reg D 506c securities offerings available to the public.
LevelField states that the purchase will be a catalyst to launch LevelField Capital, that will offer online capital formation, including allowing investors to access private investments.
As part of the deal, David Lee, a founder and CEO of Netshares, will become Managing Director of LevelField Capital. Lee is expected to work closely with Thomas Kane, LevelField Managing Director and Head of Capital Markets.
LevelField adds that it will launch in September 2022 its digital asset trading and custody platform. LevelField says it is is also in discussions to acquire a U.S. chartered bank, with an announcement expected soon.
Gene A. Grant II, CEO of LevelField, believes the future of banking is the combination of digital assets and the security of the US banking system:
“…we want to be the financial services provider of choice for customers interacting with digital assets. We’re now well positioned to be a leader in this new paradigm. The financial world is not about being game-changing but interactive and evolutionary. People want their finances to be safe, simple, and secure. Customers expect safe platforms for trading, secure custody and easy to use banking functions under one roof. That’s our vision for LevelField and why we identified an acquisition candidate like Netshares Financial Services to help us meet our strategic and regulatory goals.”
Lee says that Netshares is well position to meet the high standards of integrity and safety, adding that building LevelField Capital will be a “meaningful differentiator.”