Blockchain securities firm Hg Exchange has been acquired by Fundnel and renamed Alta

ChainCatcher news, blockchain securities firm Hg Exchange has been acquired by Singapore private investment platform Fundnel. After the transaction is completed, HGX will become a subsidiary of Alta and will be renamed Alta Exchange. Alta stated that this acquisition will support the tokenization and digital custody of alternative assets, making their trading cheaper and faster.

It is reported that Alta was established in 2016, enabling users to invest in and trade alternative assets, including startups, private equity and venture capital funds, asset-backed securities of luxury assets, and real estate. Since its inception, the market has completed transactions worth $600 million, including deals involving SpaceX, Grab, and Gojek. HGX is a private digital securities exchange established in 2019, which received a strategic investment from Binance at the end of last year, with the latter holding an 18% stake in HGX. (source link)