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Laxman Pai, Opalesque Asia: International financial services group Britannia Financial Group has acquired Alphaplate, a technology firm specializing in cryptocurrency trading. The terms of the deal were not announced.
According to a media statement from the London-headquartered financial firm, Alphaplate was established in 2017 and is a systematic, quantitative market-maker predominately on top-tier exchanges.
The deal will allow Britannia to provide its clients with access to Execution, Custody, OTC services, Payments, and Asset Management across the digital assets market. Britannia offers personalized, full-service investment banking and securities services to its clients.
Alphaplate and its team, who will largely remain in place, "bring with them proven execution capabilities alongside a robust risk management system," said the release.
The Alphaplate team transitioning to Britannia Digital consists of Jan I Strømme, who previously held senior positions at GSA Capital Partners and XTX Markets; Chao Li, a Quant Trader with over 10 years in banking and crypto; and Dan Timofte a full-stack software engineer. Robert Crenian, former CEO of Europe for Renaissance Technologies will remain as an advisor.
Mark Bruce, Head of Strategy for Britannia Financial Group, said: "With over $100 billion traded daily on the global crypto markets, it is an increasingly important asset class to many of our clients, who are looking for access to this rapidly emerging asset clas...................... To view our full article Click here
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