Cryptix and Blocktrade to merge
The Zug-Based Cryptix Group is to take over the crypto stock exchange Blocktrade, which is based in Liechtenstein. Following the takeover, the plan is to expand the Blocktrade platform. Cryptix intends to apply for an investment firm license in accordance with the MiFID-II standard before the end of the year.
Cryptix offers IT services that help SMEs to build up their digital payment solution portfolios and supports them in implementing blockchain concepts. The Zug-based company has now made an investment in Liechtenstein by taking over the crypto stock exchange Blocktrade, which is based in Schaan.
As outlined in a press release, the information available points to the Blocktrade platform being maintained and expanded. In this context, Cryptix and Blocktrade intend to recruit new employees over the coming months. Cryptix will be able to expand its competencies following the takeover of Blocktrade. This will also allow the Group to apply for a MiFID-II investment firm license before the end of this year. In this respect, the company would be able to operate as a Multilateral Trading Facility (MTF). Partners of Cryptix could then take full advantage of the trading services offered by Blocktrade, without having to apply for their own license.
Bernhard Koch, President of the Supervisory Board at Cryptix Holding AG, commented: “As small and medium-sized enterprises represent one of our two main target groups, we are all the more delighted to support them by offering new financial services following the integration of Blocktrade. In addition to regulated securities trading, we will support SMEs by facilitating uncomplicated access to funding required for investments in a revolutionary, straightforward manner”.