Apex acquires majority stake in tokenisation firm
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This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.
Tokenisation, whereby securities are represented on a blockchain-based, distributed ledger, has been seen as a way for the investment industry to embrace digital technology and reach a broader audience of potential investors.
Following an initial investment in December 2023, Apex will eventually control 100% of the company over the next three years.
According to Apex, the deal shows the fund services firm's commitment to push the institutional adoption of the tokenisation as well as bolstering its own digital assets infrastructure.
'Tokenisation is a foundational shift in how assets will be managed, distributed, and accessed," said Peter Hughes, founder and CEO of Apex Group.
"Our strengthened partnership with Tokeny is key to delivering on our vision to be the infrastructure provider in the digital era of finance.'
'Expanding our partnership to now being part of Apex Group enables us to move faster and serve more institutions with a truly global footprint," added Luc Falempin, Tokeny CEO. "We're proud to align with their vision to deliver tangible innovation to the financial industry.'
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