UK digital asset exchange Archax has acquired Globacap Private Markets Inc. (Globacap PMI) a US regulated broker dealer and alternative trading system (ATS). It bought the US company from fellow British startup Globacap which provides workflow solutions for private markets and is also active in the digital assets sector.
“The acquisition of Globacap PMI in the US builds on the strong partnership we already have with them in the UK, and is a part of that global strategy,” said Graham Rodford, CEO and co-founder of Archax.
“In particular, we want to help support institutional market participants transition from traditional to digital assets and give them the regulated tools and services they need to do that. The US is an enormous and important global market – and with the recent change of government and new, clearer and more open regulated landscape, it is important for firms in our space to have a clear US strategy – and this transaction gives us just that.”
Archax has a multilateral trading facility (MTF) license in the UK and recently acquired a Spanish broker to give it a footprint in the EU. It trades both cryptocurrencies and tokenized securities, targeting institutions. It grabbed headlines when it revealed the big UK asset manager abrdn as an investor in 2022.
To date its tokenization efforts has especially focused on funds, but also bonds and carbon credits. In January it announced plans to tokenize existing equities and government debt so they are usable as DLT-based collateral.
