abrdn has concluded a deal to become the largest external shareholder in Archax, the UK’s first regulated digital securities exchange.
Archax has been introduced to provide access for institutional investors to blockchain-based digital assets, acting as a bridge to traditional capital markets.
Established four years ago, Archax is the first and only digital securities exchange that has won approval from the UK Financial Conduct Authority with permissions covering trading, custody and brokerage. The exchange will launch later this year.
Working with Archax, abrdn aims to use the venue as a route through which investors can access new investment opportunities through digital securities.
Archax has also been initiated to allow investors connection to existing offerings through tokenisation. It also facilitates a shift towards operating efficiencies through the adoption of new technologies such as blockchain.
Commenting on the initiative, Stephen Bird, CEO of abrdn, says: “Blockchain technologies are inevitably going to form a big part of the future of financial markets. With Archax, we will have a meaningful footprint in this fast-developing market which is likely to evolve in a multitude of different ways that are relevant to our core businesses.
“This investment not only provides an opportunity for substantial financial benefits, it also creates a partnership with some of the leading thinkers in an area that has the potential to play a substantial role in the future of finance.”
Graham Rodford, CEO of Archax, comments: “It is extremely exciting to have abrdn as a strategic investor in our business. We look forward to working with abrdn closely to provide a new universe of users with access to our services, as well as creating new innovative tokenised products that will trade on our marketplace.”
