Jersey-based Bletchley Park Asset Management has made a strategic investment in soon-to-launch institutional cryptocurrency exchange, Archax.
Bletchley Park Asset Management confirmed it is taking a stake in London-based Archax ahead of its launch later this year. The buy-side firm is focused on investing in blockchain technologies and the industry’s wider ecosystem.
Archax has already submitted its application to register as a multilateral trading facility (MTF) with the UK’s Financial Conduct Authority (FCA), in order to provide a trading venue for institutional investors and companies to trade digital securities globally.
Lewis Fellas, chief investment officer at Bletchley Park Asset Management, stated that the firm strongly believes that the adoption of blockchain technologies will disrupt the financial markets space and add significant value to the industry.
“We are keen to invest in innovative products and teams that really understand this space, and the potential of the technology. Archax clearly fits the bill,” Fellas added. “We are pleased to have been able to make an early investment in their seed fund stage and are excited about their future potential and the investment opportunities the exchange will bring to market.”
Archax is also preparing to launch its own security token offering (STO) later this year, where it will tokenise and sell a portion of its own equity. Graham Rodford, CEO and co-founder of Archax, commented that the tokenisation of assets is the next significant step in the evolution of financial markets.
“As well as bringing liquidity to assets that are currently illiquid and hard to trade, blockchain technology also has the potential to revolutionise traditional liquid financial markets too – particularly by bringing efficiencies and cost savings to the post-trade space,” Rodford said.
“Whilst looking for seed investment, we were keen to find partners who understand what tokenisation can bring and that could add real value to the Archax business. Lewis and the team at Bletchley Park deliver exactly that.”