According to TechFlow news on July 22, as reported by CoinDesk, the UK-regulated digital asset trading platform Archax is set to acquire the German regulated crypto asset management company Deutsche Digital Assets (DDA) to strengthen its business presence in the two major financial markets in Europe.
DDA manages approximately $70 million in assets, focusing on distributing crypto exchange-traded products (ETPs) through a network of European banks and asset management firms. This acquisition allows Archax to acquire a new license under Germany's financial regulatory authority BaFin, including portfolio management and investment advisory capabilities, which are critical for servicing EU institutional clients.
After acquiring the Spanish broker KSCM in 2023, Archax now holds regulatory approvals in the UK, Germany, France, and Spain, making it one of the most comprehensively licensed digital asset companies in Europe. Archax CEO Graham Rodford stated that this transaction makes the company one of the most comprehensively regulated digital asset firms in Europe.
