The Strategic Acquisition Announcement

In a move that sent ripples through the cryptocurrency waters, CrossTower Inc. has just dived into a new venture by acquiring the digital asset trading platform BEQUANT. This deal, announced on November 28, 2023, is not your run-of-the-mill acquisition; it positions CrossTower to welcome over 600 new professional exchange clients. With clients scattered across the globe—from the US to Latin America—these new partnerships could mean an increase in turnover up to $400 billion annually. That’s some serious crypto cash!

Why BEQUANT? The Clientele Angle

CrossTower’s CEO, Kapil Rathi, disclosed that their long-standing quest was to find digital asset companies that boast a robust customer base and a sound financial footing. Let’s not forget, there was also a slight flirtation with Voyager Digital’s assets, which fell through quicker than a crypto crash. Rathi’s vision is clear: with the acquisition of BEQUANT, they aim to regain the industry’s trust, which has taken a wild hit recently—thanks a lot, FTX.

Backing from the Big Guys

The CrossTower-BEQUANT deal isn’t festooned with confetti alone; it’s backed by none other than the London-based financial services firm Lydian Group. CEO Gerard Lopez expressed hopes that this acquisition not only elevates CrossTower’s business stature but also introduces a new standard of professionalism and transparency within the crypto industry. Because let’s face it, this industry could use a little more towel-waving and a tad less shadiness.

CrossTower’s New ESG Crypto Fund

And if acquiring BEQUANT wasn’t enough, CrossTower also unveiled its latest offering: an Environment, Social, and Governance (ESG)-focused Crypto Fund. This innovative fund is on a mission to find and invest in companies that exemplify accountability in social governance and energy efficiency. Rathi noted they’re steering clear of “greedy” firms, shining a brighter light on companies eager to democratize finance. Because, who knew saving the world could potentially yield some great returns?

The Investment Landscape Shift

Recent discussions among industry experts highlight that trends like the Ethereum Merge, occurring on September 15, may be pivotal in influencing institutional investments. Major firms like Fidelity and BlackRock, which prioritize ESG mandates, are expected to take notice as they seek investment avenues that align with their values. A June study by Morningstar even revealed that 80% of investors with ESG-themed investments also dabble in cryptocurrencies. Meanwhile, only 22% of those who forgo ESG investments claim crypto as part of their portfolio. Talk about a trend worth follow!