UK-based cryptoasset firm Altalix acquired by Clear Junction for undisclosed amount, rebranded as Clear Junction Digital Ltd. Focus shifts to serving regulated institutions for a competitive edge in the growing digital assets market.
Facts
- Clear Junction acquires Altalix to enhance its competitive position in the digital assets market.
- Altalix will be renamed Clear Junction Digital Ltd. and shift from serving crypto-businesses to exclusively serving regulated institutions.
- Clear Junction’s purchase is not aimed at becoming a digital asset exchange but adapting to changing market sentiments.
- Altalix was one of the first crypto firms registered with the Financial Conduct Authority (FCA).
- Clear Junction underwent a rigorous change in control process with the FCA, obtaining both cryptoasset and electronic money institution (EMI) licenses.
- Clear Junction has been providing technology for global access to payment accounts, e-money accounts, virtual IBANs, and treasury services to regulated institutions since 2016.
- The acquisition of Altalix’s fiat-to-crypto gateway solutions will enable Clear Junction to offer both fiat and digital services.
