CMC Markets (LON: CMCX), the operator of a major retail brokerage brand and provider of institutional platform technology, announced today (Friday) its investment into StrikeX Technologies, a customer-centric blockchain solutions business.
A Strategic Investment for CMC
The London-headquartered company acquired a 33 percent stake in StrikeX Technologies but did not disclose the financial terms of the deal.
The investment is strategic as StrikeX can combine its expertise in tokenization and self-custody technologies with CMC's financial services offerings. It will also allow CMC to access blockchain-related products.
"This is a major strategic investment in the growing Web 3.0 technology space of which StrikeX Technologies gives us access to the very best technology and advancements," said Lord Cruddas, the CEO at CMC Markets.
"StrikeX is a brilliant, young, dynamic company with a very talented team that has its finger on the pulse of fast-moving technologies. We are all very excited about working together as we continue to diversify our business with the latest technology, products, and wallet settlement."
CMC Is Growing Its Footprint
The acquisition came when CMC was expanding both in geographies and products. Earlier this year, it launched CMC Invest for its customers in Singapore; the platform is also available in the United Kingdom and Australia. On top of that, the institutional arm of CMC is aiming to grow in the Middle East and has recently expanded its operations in the United Arab Emirates by upgrading its Dubai office.
"Our partnership with CMC Markets sets out to bolster our position as early frontrunners in this dynamic and fast-moving industry, whilst validating our long-term vision and strategy," StrikeX's Chief Executive Officer and Co-Founder, Joe Jowett, added.
"We strive to pioneer the delivery of traditional financial instruments, such as equities, commodities, and bonds, to the blockchain, whilst guaranteeing security, compliance, and ease of access via intuitive, secure, and user-friendly products. We are excited to see all we can achieve with our new partners and look forward to sharing more updates as we continue to grow and innovate."
