Crypto trading and lending firm VersiFi has acquired Ather Digital, a startup specializing in trading technology. This all-stock transaction enables VersiFi to integrate advanced market access and algorithmic trading features into its platform, thereby enhancing its service offerings to clients.
Enhancing Market Position
The acquisition marks a step in VersiFi’s growth, coming six months after raising $10 million in Series A funding aimed at launching and scaling operations. Co-CEO Sameer Shalaby emphasized the move as part of a broader strategy to support institutional investors with enhanced trading capabilities and direct market access.
The deal expands its operational footprint, leveraging Ather’s established presence in Abu Dhabi to increase its influence in offshore markets. This will increase VersiFi’s global influence and reach.
The integration of Ather’s team, including founder and CTO Sidharth Sankhe who will take on the role of head of quant trading technologies at VersiFi, is set to bolster the firm’s expertise.
With this acquisition, VersiFi reaffirms its commitment to advancing the crypto trading sector and highlights the dynamic nature of the industry where innovation and partnerships pave the way for future growth.
This move also signals VersiFi’s readiness to meet increasing demand and to navigate the evolving regulatory landscapes, especially with its anticipated full regulation in the UAE within the next quarter.
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