UK-based cryptoasset firm Altalix has been acquired by the payments solutions provider Clear Junction for an undisclosed sum.
In brief:
-It will move its strategy from providing fiat administration and on/off ramp solutions to crypto-businesses and retail clients to exclusively serving regulated institutions while continuing to operate as a separate business
-Clear Junction said that its purchase of the company is not an attempt to become an exchange or trade in digital assets
-Altalix is a select choice for the processor, as the firm was one of the first to be registered with the Financial Conduct Authority (FCA), and its development was guided by the oversight of the regulator’s Regulatory Sandbox and Innovation Hub.
What does this mean?
Dima Kats, CEO of Clear Junction said “It is imperative for us to expand our expertise and product offerings in line with the market trends and our vision to provide correspondent account services to regulated institutions.”
