Crypto firm XBTO acquires digital asset trading firm Stablehouse
Quick Take
- Crypto firm XBTO has acquired the crypto custody and trading firm Stablehouse for an undisclosed sum.
- Through the acquisition, XBTO will be able to offer more digital asset financial services to customers.
The crypto firm XBTO has acquired the custody and trading firm Stablehouse for an undisclosed sum.
Stablehouse will facilitate XBTO's custody offerings and expand the firm's digital asset services for institutional investors through the acquisition, according to a statement. XBTO will now be able to offer custody, institutional trading, asset management and designated market making to customers.
Philippe Bekhazi has concurrently acted as the CEO to both Stablehouse and XBTO Group, according to his LinkedIn, and will become XBTO Global's CEO after the move.
“XBTO’s acquisition of Stablehouse represents a significant moment for both companies, in our joint mission to help drive new technologies and services that are key to institutional adoption of digital assets,” Bekhazi in a statement
“In light of the recent turmoil and challenges in the industry, institutions need to trust the underlying security of their digital assets in order to allocate to the asset class with confidence. By acquiring Stablehouse, XBTO is now able to offer a one-stop digital assets platform catered to sophisticated non-US investors and institutions.”
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