CrossTower pursuit of acquisition targets in a shopping window extending for months yielded BEQUANT, a trading platform for digital assets. The Jersey City-based company has been scouting for compliance-focused crypto firms with healthy balance sheets. Also, CrossTower confessed to submitting a revised bid for the Voyager Digital assets.
Takeover of BEQUANT’s Health Clientele
Announcing BEQUANT takeover on November 28, the CrossTower portfolio will benefit from 600 professional exchange clients. Besides the US, the acquisition will give CrossTower a diverse clientele from Latin America, Asia, and Europe. Before the agreement, BEQUANT declared serving a diverse clientele with a collective turnover of $400 billion annually.
BEQUANT acceptance of the CrossTower offer comes as the chief executive Kapil Rathi confirmed targeting digital asset firms with healthy balance sheets and desirable customers. The announcement conveyed on November 24 illustrated CrossTower’s pursuit of the embattled cryptocurrency lender Voyager following the collapse of the FTX agreement.
Rathi recognized the input of Lydian Group – a tech conglomerate in digital assets headquartered in London, to acquire BEQUANT. Confirming the successful takeover, Lydian Group chief executive Gerard Lopez expressed confidence that the acquisition will nurture transparency and professionalism within the crypto industry.
Crypto Fund Launched
Further, Rathi confirmed CrossTower was offering a crypto fund oriented to environment, social, and governance (ESG), targeting investment in firms demonstrating efficient energy management, accountable governance, and social responsibility.
Although the CrossTower address failed to mention potential firms targeted in the fund, representatives drawn from the trading platform emphasized it is scouting for companies oriented to democratizing finance.
The exclusion of companies motivated by greed seemed targeted to companies exposed to the FTX Group debacle. In particular, Rathi critiqued the rushed nature of crypto acquisition that yielded short-lived empires currently engulfed in the liquidity crisis.
ESG-Themed Investments Garners Steam
CrossTower retaliated priority in scouting for digital asset firms governed through proper board structures and business expertise and exercising checks and balances since the crypto trouble experienced today arises from human failure.
Interestingly, the ESG Crypto Fund launched by CrossTower adds fuel to the industry trend where recent investment decisions by BlackRock, Goldman Sachs, and Fidelity Investments consider ESG mandate a significant factor. Such consideration matches June’s observations from a Morningstar study indicating 80% of ESG-themed investors have active cryptocurrency ownership.
Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at firstname.lastname@example.org if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.