W Group and WhiteBIT founder Volodymyr Nosov has acquired a significant stake in Dutch luxury sports car maker Spyker, the companies announced on Tuesday.
Spyker will become part of the W Group under the deal. Financial terms were not disclosed.
The two parties will also launch Spyker Digital, a technology venture focused on digital infrastructure and ownership solutions for premium cars. The companies said the initiative will pair blockchain tools with the sports car brand.
“Becoming a co-owner of Spyker is both a personal and strategic investment,” said Nosov. “Spyker Digital will become a synergy of the finest traditions of European engineering and the digital economy, where a sports car is integrated with blockchain products and tokens.”
The deal marks W Group’s push beyond fintech and crypto into physical manufacturing. WhiteBIT, the group’s core asset, describes itself as Europe’s largest crypto exchange by traffic, serving 35 million users across 150 countries, according to the company.
Spyker, a limited-production Dutch marque founded in 1880, is in the middle of a comeback. The new Spyker C8 Preliator XXV, powered by a non-hybrid twin-turbo V8 producing 800 bhp, is set to debut at The Quail in Carmel, California, on August 14.
