Blockchain.com, a leading cryptocurrency services provider, announced that the company has acquired assets of AiX, a technology firm that has built the AI-powered negotiation and matching engine for institutional OTC traders.
According to the official announcement, Blockchain.com is planning to expand its institutional offering through the latest acquisition. Additionally, the cryptocurrency platform welcomed the team of AiX that includes some of the leading industry experts.
Blockchain.com has seen significant growth in the last few months amid a jump in cryptocurrency trading. Emerging traders and institutional investors are driving the demand for crypto-wallets. Blockchain.com recently raised $300 million in a Series C funding round led by DST Global, Lightspeed Venture Partners and VY Capital. In addition, the company received a valuation of $5.2 billion.
Commenting on the latest announcement, Peter Smith, CEO of Blockchain.com, said: “The AiX team brings deep engineering, trading and operational expertise from some of the world’s most respected financial institutions, including JP Morgan and Goldman Sachs. AiX CEO, Jos Evans spent 15 years trading and broking in derivatives markets. In fact, he previously launched and sold a brokerage, which was a pioneer in creating new commodity derivatives. AiX COO, Taylor Cable held a number of roles, including Senior Trader, Project Manager and Portfolio Manager at Louis Bacon’s Moore Capital Management for over 15 years.”
The latest acquisition of the assets of AiX is a part of the company’s large-scale M&A activities. In November 2018, Blockchain.com acquired London-based firm Stratagem to accelerate the company’s growth. During the latest announcement, Smith mentioned that Blockchain.com is ready to welcome new products and ideas into the company.
“When we raised our Series C last month, I shared our vision to aggressively expand our products, grow our customer base, and pursue M&A opportunities that bring new products and ideas into the company. Given that our Institutional Markets businesses are rapidly growing, it’s fitting that AiX join us to accelerate the development of products and solutions for Institutions,” he added.
The overall market cap of cryptocurrencies gained nearly $1.5 trillion in 2021. According to an estimate, there are more than 100 million cryptocurrency users around the world.