Zug-based Cryptix AG has acquired Blocktrade in late August. Now the company is about to apply for a MiFID II investment license, which will enable the launch of a Multilateral Trading Facility. The company is looking for talents to join the team in Vaduz.
Cryptix AG is a Swiss full-service provider in the blockchain and DLT sector. It acquired the Liechtenstein-based digital assets exchange Blocktrade last month, to build up its infrastructure and add new features to the exchange’s offering. As part of the growth strategy, the company also wants to expand the Vaduz-based team during the coming months.
Luka Gubo, CEO of Blocktrade, comments, “Cryptix enables us to find new talents within a short time. The additional funding will allow us to drive not only the development of our platform but also complete the licensing process.”
Blocktrade also pointed out that the acquisition will not affect customers in any negative way as they will continue to be able to use the service as usual.
Cryptix plans the launch of a Multilateral Trading Facility
The acquisition of Blocktrade was a milestone in Cryptix’ expansion strategy. As a next step, the company is going to apply for a MiFID II investment license in Q4 2019 with the Liechtenstein Financial Market Authority (FMA). With this license, the company can operate its exchange as a Multilateral Trading Facility (MTF), enabling Cryptix’s partners to make full use of Blocktrade’s services without having to apply for their own licenses.
Bernhard Koch, Chairman of the Board of Directors of Cryptix Holding AG, explains, “One of our two main target groups are small and medium-sized companies, and we will be able to offer them completely new financial services through this project. In addition to the regulated trading of securities, we will also help them to raise funds in a revolutionarily easy way.”
He is primarily talking about the listing of security tokens. MTFs provide retail investors and investment firms with an alternative to traditional exchanges. They have fewer regulatory restrictions regarding trading, allowing participants to exchange more assets and over-the-counter products. Operating as an MTF, Blocktrade can list security tokens for trading, enabling its clients’ access to liquidity.
DLT and cryptocurrency research center in Vienna
Besides the Blocktrade acquisition and the MTF license, Cryptix is also engaging in DLT research and development. Earlier this year, the company has launched Cryptix LABS in Vienna, an international research and development company with a focus on blockchain technology and particularly cryptocurrencies.
Cryptix LABS not only wants to promote the overall technological development but also actively provides access to the latest DLT solutions to a broad range of companies. That’s why the company has opened its office in Vienna’s Millennium Tower, an incubator for blockchain‐affine companies.
Chairman Koch believes, “In the coming years, many industries will change significantly. As a company we believe blockchain technology will influence in particular small and medium‐sized businesses. […] This is the reason why we position our companies early on the international stage.”
Indeed, with branches in Zug, Vienna, and Liechtenstein, Cryptix has already established a presence in all DACH core markets except Germany. The company is growing and continuously looking for talents. There might also be an exciting opportunity for some of our readers?