Arcane Crypto AS has entered into an agreement to increase its ownership in PuremarketsArcane Crypto AS ("Arcane") increases its ownership in Puremarkets Limited ("Puremarkets") to 37.5%. Puremarkets is establishing a cryptocurrency interbank marketplace called Pure Digital.
Puremarkets currently has LOIs with two international Tier 1 investments banks.
The LOIs set out their intention to explore a partnership with Pure Digital's interbank digital asset trading platform. In addition, Puremarkets is in active discussions with five other Tier 1 investment banks regarding entering into LOIs.
"We are very happy to continue to support Puremarkets" says Torbjørn Bull Jenssen, CEO of Arcane. "Pure Digital is the only platform that we are aware of to offer an interbank digital asset trading platform in a market currently dominated by OTC desks for spot trading and actors like CME and BAKKT for derivatives, there isn't a solution solely tailored to investment banks. With Pure Digital, Tier 1 investment banks will be able to trade cryptocurrencies almost like they trade traditional FX today, and we believe this will be acceleration for further institutional adoption".
Lauren Kiley, the CEO of Puremarkets commented "The increased investment from our seed investor shows the strength and commitment in our partnership and we are very excited for further announcements from the top tier banks involved in the initiative soon."
About the transaction
Arcane Crypto AS ("Arcane"), a wholly owned subsidiary of Arcane Crypto AB, has today entered into an agreement to increase its ownership in Puremarkets Limited ("Puremarkets") to 37.5%. The investment amount is GBP 200,000.
February 9th, 2021. For further information, please contact:
Torbjørn Bull Jenssen, CEO, Arcane Crypto AB
e-mail: [email protected]
web: investor.arcanecrypto.se
The following documents can be retrieved from beQuoted
Arcane Crypto Pressrelease.pdf About Arcane Crypto
Arcane Crypto develops and invests in projects, focusing on bitcoin and digital assets. Arcane operates a portfolio of businesses, spanning the value chain for digital finance. As a group we deliver services targeting payments, investment, and trading. In addition, we have a media and research leg.
Arcane has the ambition to become a leading player in the digital assets space by growing the existing businesses, invest in cutting edge projects, and through acquisitions and consolidation.
The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser, tel. +46 8 5030 1550, e-mail: [email protected], web: www.mangold.se
About Puremarkets Ltd.
Pure Digital is an interbank marketplace for cryptocurrency price discovery and exchange of wholesale risk provided by Puremarkets. Pure Digital will provide a best-in-class primary institutional marketplace, with a consortium of banks as liquidity providers, custodians, and clearers. Expect meaningful trade size along with price granularity and transparency. The solution also uniquely offers pre-trade bilateral credit and multi/smart custody. Pure Digital will also feature the ability for banks to select their counterparties enabling compliance over geographies with different regulatory environments. The management team bring many years of experience at top tier banks and have successfully delivered a similar platform for the FX market.
The trading environment of Pure Digital will be delivered by a highly recognized player of such systems within the FX industry and is currently in beta testing for selected customers of the banks which have signed or are in the process of signing LOIs with Pure Digital.
An important next step for Pure Digital is the banks going public with their support for the platform and thereby creating increased interest and market awareness about Pure Digital's offering.
For further information about Puremarkets and the Pure Digital platform please see: https://puredigitalmarkets.com/
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