Netcapital, a financial technology company listed on the Nasdaq stock exchange, has acquired crypto-native protocol Mixie in a deal that has been described as a bridge between traditional and decentralized finance.
Mixie, a no-code Web3 gaming platform, was acquired by Netcapital’s portfolio company, Zelgor, for an undisclosed amount, the company told Cointelegraph on Monday.
A spokesperson said it was the first time a publicly-listed company has acquired a crypto-native protocol specifically to expand the blockchain industry.
Headquartered in Boston, Massachusetts, Netcapital operates a digital capital markets platform that helps private companies raise capital while giving investors access to private equity opportunities. Its funding platform, Netcapital Funding Portal, is registered with the US Securities and Exchange Commission (SEC).
The company, which trades under the ticker NCPL, went public in September 2017. The stock is considered a nano-cap with a total market capitalization of roughly $6.8 million, according to Yahoo Finance data.
Netcapital said it was especially drawn to Mixie’s tokenization infrastructure and accelerator model that supports early-stage founders. The acquisition was touted for enhancing “synergies between Mixie’s tokenization capabilities and Netcapital’s browser-based security offering,” the company said.
Crypto M&A activity on the rise
2025 is shaping up to be a busy year for crypto mergers and acquisitions, signaling a broader wave of consolidation as the industry matures.
M&A deals reached another record high in the first quarter, highlighted by crypto exchange Kraken’s $1.5 billion acquisition of NinjaTraders, according to Architect Partners.
The research company counted six transactions valued at $100 million or more in the first quarter.
M&A activity has ramped up in the second quarter, with Coinbase doling out $2.9 billion to acquire crypto derivatives exchange Deribit, and Ripple paying $1.5 billion for prime brokerage Hidden Road.
The M&A wave was widely expected to continue this year, driven by more favorable regulatory conditions in the United States and the potential for declining financing costs.
EARN’M CEO Dan Novaes told Cointelegraph that consolidation will likely persist, as the industry remains overcrowded and overtokenized.
