In August, London-based digital asset exchange Archax announced that major UK asset manager abrdn was investing an undisclosed amount. According to regulatory filings, the company recently issued shares worth £29 million ($32m), including £5 million relating to the conversion of an existing loan note, giving £24 million ($27m) in new funds. The company’s valuation has reached £150 million ($170m).
After publication, the company made an additional filing for the issuance of another £4.1 million of stock.
Archax plans to launch its institutional digital asset exchange in the current quarter, covering both cryptocurrencies and digital securities. It has FCA regulatory approval to operate a multilateral trading exchange, provide custody and a crypto-asset AML license.
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