March 29, 2023

Mergers & Acquisitions

Wave Financial, a U.S. company, purchases stock in Cryptonite Asset Management, a Swiss cryptocurrency company

Recent reports state that Swiss cryptocurrency asset management company¬†Criptonite Asset Management has acquired a minority share from Wave Financial, a U.S. asset management company. It is thought that securing its interest in European Asset Management is the first step toward fully acquiring the company, which will happen before the end of this year.Since 2021, both businesses have been working together informally to sell NFT assets in Europe, with Criptonoite also supplying Wave Financial’s Bitcoin.

In terms of greater interest in cryptoassets from possible European investors, ideally companies like Criptonite and Wave, this acquisition will benefit Wave Financial.

David Siemer, the CEO of Wave Financial, predicts that this transaction will likely be the first of many. He continued by saying that the market crash presents a chance for fintechs to develop and prosper. The company is excited to increase its presence in Europe and beyond and is in talks with several lenders, exchangers, and investment managers.

Institutional investors are cautious when it comes to cryptocurrencies, but open to tokenised funds and digital assets.

Another investment firm, Schroders, recently purchased a modest position in the asset management company Forteus, which also specialises in tokenized and blockchain assets. Wave Financial is interested in purchasing a share in managing digital assets in Europe.

To keep up with the latest developments in the world of fintech and for more fintech news, please visit https://worldfintechnews.com/.

 

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