Hg Exchange will become Alta Exchange following the company's acquisition by alternative assets marketplace Alta, which was formerly known as Fundnel.
Alta recently rebranded from Fundnel to demonstrate the firm's vision of"alternative assets for all." Since 2016, Alta has completed over 1,000 transactions valued in excess of $600 million, the company claims.
Hg Exchange is a private exchange that was formed in 2019 by an alliance of financial intermediaries, including Alta and PhillipCapital, and is regulated by the Monetary Authority of Singapore. Last year, the Singapore entity of Binance, Binance Asia Services,Hg Exchange will now be rebranded to Alta Exchange following the acquisition and will continue to be led by its current CEO, Willie Chang.
“With the new brand launch and acquisition of Hg Exchange, Alta is affirming its leadership in private markets and continues to pave the way for broader acceptance of tokenized, asset-backed securities," said Hajime Ikeda, head of digital company at Nomura Holdings, in the release. © 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.Kari McMahon is a deals reporter at The Block covering startup fundraises, M&A, FinTech and the VC industry. Prior to joining The Block, Kari covered investing and crypto at Insider and worked as a python software developer for several years.
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