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Arcane Crypto AS ("Arcane") increases its ownership in Puremarkets Limited ("Puremarkets") to 37.5%.
Puremarkets is establishing a cryptocurrency interbank marketplace called Pure Digital.
Puremarkets currently has LOIs with two international Tier 1 investments banks.
The LOIs set out their intention to explore a partnership with Pure Digital's interbank digital asset trading platform. In addition, Puremarkets is in active discussions with five other Tier 1 investment banks regarding entering into LOIs.
"We are very happy to continue to support Puremarkets" says Torbjørn Bull Jenssen, CEO of Arcane. "Pure Digital is the only platform that we are aware of to offer an interbank digital asset trading platform in a market currently dominated by OTC desks for spot trading and actors like CME and BAKKT for derivatives, there isn't a solution solely tailored to investment banks. With Pure Digital, Tier 1 investment banks will be able to trade cryptocurrencies almost like they trade traditional FX today, and we believe this will be acceleration for further institutional adoption".
Lauren Kiley, the CEO of Puremarkets commented "The increased investment from our seed investor shows the strength and commitment in our partnership and we are very excited for further announcements from the top tier banks involved in the initiative soon."
About the transaction
Arcane Crypto AS ("Arcane"), a wholly owned subsidiary of Arcane Crypto AB, has today entered into an agreement to increase its ownership in Puremarkets Limited ("Puremarkets") to 37.5%. The investment amount is GBP 200,000.
February 9th, 2021.
For further information, please contact:
About Arcane Crypto
Arcane Crypto develops and invests in projects, focusing on bitcoin and digital assets. Arcane operates a portfolio of businesses, spanning the value chain for digital finance. As a group we deliver services targeting payments, investment, and trading. In addition, we have a media and research leg.
Arcane has the ambition to become a leading player in the digital assets space by growing the existing businesses, invest in cutting edge projects, and through acquisitions and consolidation.
About Puremarkets Ltd.
Pure Digital is an interbank marketplace for cryptocurrency price discovery and exchange of wholesale risk provided by Puremarkets. Pure Digital will provide a best-in-class primary institutional marketplace, with a consortium of banks as liquidity providers, custodians, and clearers. Expect meaningful trade size along with price granularity and transparency. The solution also uniquely offers pre-trade bilateral credit and multi/smart custody. Pure Digital will also feature the ability for banks to select their counterparties enabling compliance over geographies with different regulatory environments. The management team bring many years of experience at top tier banks and have successfully delivered a similar platform for the FX market.
The trading environment of Pure Digital will be delivered by a highly recognized player of such systems within the FX industry and is currently in beta testing for selected customers of the banks which have signed or are in the process of signing LOIs with Pure Digital.
An important next step for Pure Digital is the banks going public with their support for the platform and thereby creating increased interest and market awareness about Pure Digital's offering.
For further information about Puremarkets and the Pure Digital platform please see: https://puredigitalmarkets.com/
Puremarkets Limited ("Puremarkets" branded as Pure Digital), a company where Arcane Crypto AB ("Arcane") holds 37.5% through Arcane Crypto AS, today publicly announced that State Street's Currenex ("Currenex") have entered into an agreement to provide the trading infrastructure to the Pure Digital platform. In addition, State Street Bank & Trust Company and Puremarkets intend to explore the digital currency trading space via the Pure Digital platform based on an existing LOI between the parties.
Arcane Research, a division of Arcane Crypto AS, which produces data-driven analysis and bespoke research today announced it has entered into a collaborative partnership for institutional research with BlockFi, a financial services company dedicated to building a bridge between cryptocurrencies and traditional financial and wealth management products.
Arcane Crypto AB ("Arcane Crypto" or the "Company") has, on 13 October 2020, announced that the Company's now subsidiary Arcane Crypto AS had entered into a share purchase agreement regarding the acquisition of all shares in Kaupang Krypto AS ("Kaupang") from Bulltech AS (the "Seller"), in which the consideration consists mainly of (i) NOK 1,000,000 in cash and (ii) NOK 18,500,000 to be set-off against 155,718,793 shares (the "Consideration Shares") in Arcane Crypto (based on the volume-weighted average price of Arcane Crypto's share sixty (60) trading days preceding signing of the share purchase agreement). Closing of the transaction and issuance of the Consideration Shares has today been completed through a directed set-off issue of shares.
At the Extraordinary General Meeting in Arcane Crypto AB ("Arcane Crypto" or the "Company") on 19 March 2021, which due to the corona virus has been conducted solely through postal voting in advance pursuant to temporary legislation, the resolutions presented below were passed. All resolutions were in accordance with submitted proposals, which are described in detail in the meeting documents available on the Company's website, investor.arcanecrypto.se.
Aktieägarna i Arcane Crypto AB, org. nr. 556668-3933 ("Arcane Crypto" eller "bolaget"), kallas härmed till extra bolagsstämma att hållas fredagen den 19 mars 2021.
Arcane Crypto AB has published an updated company presentation, to be presented in the webcast with CEO Torbjørn Bull Jenssen today at 10.00am CET Investors, analysts, and media are invited to follow the webcast.
The report, which can be found at https://investor.arcanecrypto.se/, provides details of the Company's financial performance throughout 2020. Additionally, in connection with the acquisition of Arcane Crypto AS the company entered a re-listing process at Nasdaq First North. The re-listing process was successfully completed, and the company received a preliminary approval from Nasdaq on December 4th, 2020. Arcane Crypto AS was formally acquired on January 11th, 2021 and hence not being consolidated in these numbers. Except for in the section regarding significant events post the balance sheet date, the CEO comments and information on group structure and operations, this report does not contain information related to Arcane Crypto AS and its business.
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