Blockchain.com buys OTC platform Altonomy for $250 million

The cryptocurrency exchange and wallet provider Blockchain.com has acquired the OTC platform Altonomy, which specialises in providing liquidity for altcoins. The Block reports.

The deal was $250 million in cash and stock.

Founded in 2018 in Singapore, Altonomy will allow Blockchain.com to expand its trading activity and footprint in Asia. Institutional clients will have a wider range of crypto assets.

Altonomy’s 2021 turnover was $16 billion.

Among other things, Blockchain.com declined to obtain a license from the FCA. The regulator’s deadline for AML compliance approval expires on March 31. The company was previously included in the temporary register.

A source familiar with the situation told The Block that the company is considering Lithuania, the United States, and Ireland as jurisdictions for registering its business, and it also plans to obtain a licence in Germany. UK customers will be served by Blockchain (LT) UAB.

Back in September 2021, the FCA announced tightening of regulatory measures for the digital-asset industry.

In March, the regulator reported investigations into 50 crypto firms.

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