Archax Acquires U.S. Broker-Dealer to Enter Institutional Market
Archax, a U.K.-regulated crypto exchange, has acquired Globacap Private Markets Inc, a U.S. broker-dealer, to enter the institutional market in the United States following favorable regulatory changes.
- Globacap will be renamed Archax Markets US.
- The new entity will cater to institutions and professional investors in the U.S.
- Asset tokenization is gaining traction as banks and asset managers adopt blockchain for efficiency and faster settlements.
- Recent initiatives include Fidelity Investments filing to launch a tokenized money market fund and CME Group testing tokenization services with Google Cloud.
- Archax focuses on trading tokenized real-world assets, with a recent tokenized Treasury fund achieving $45 million in deposits.
- CEO Graham Rodford noted increased interest from the U.S. market under the current administration.
- Future plans include offering tokenized U.S. equities and bonds across multiple blockchains.
- This acquisition follows Archax's recent purchase of a Spanish brokerage to expand into the EU, pending regulatory approvals.