Blockchain.com buys Altonomy OTC platform for $250 million

by in Cryptocurrency News

blockchain.com

Cryptocurrency exchange and wallet provider Blockchain.com has acquired Altonomy, an OTC platform that specializes in providing liquidity in altcoins.

The deal amounted to $250 million in cash and shares.

Founded in 2018 in Singapore, Altonomy will allow Blockchain.com to expand its trading activities and presence in Asia. Institutional clients will have a greater choice of crypto assets.

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Altonomy's 2021 turnover was $16 billion.

Among other things, Blockchain.com refused to obtain an FCA license. March 31 is the deadline for the regulator to approve compliance with the anti-money laundering regime. Previously, the company was included in the temporary register.

An interlocutor familiar with the situation told that the company is considering Lithuania, the United States, and Ireland as a jurisdiction for registering a business, and also plans to obtain a license in Germany. Clients from the UK will be transferred to Blockchain (LT) UAB.