VP Capital, the investment vehicle which holds Capital.com and several other technology businesses, said on Monday morning that it has sold Currency.com to CXNEXT.
We see significant potential in Currency.com and plan to invest in expanding its capabilities to meet the growing demands of digital asset users,” said Konstantin Anisimov, a representative of CXNEST.
Currency.com is a cryptocurrency platform that lets users trade and hold digital assets. It has approvals from 28 state regulators in the US and the Gibraltar financial authorities.
Previously the company allowed users to trade tokenised assets. For example, you could use the company’s services to trade a tokenised version of Tesla shares.
In its statement, VP Capital said that approvals for the sale from all regulators have already gone through.
VP Capital said the sale was undertaken so that the investment group can focus on its core products.
It’s plausible that it’s because the firm believes integrating crypto within Capital.com is a better option than having two separate brands.
We spoke to the company’s Chief Product and Marketing Officer earlier this year and he noted that the brokerage group is in the process of adding upwards of 15 products to its platform. It is hard to imagine crypto not being one of them.
“The sale of Currency.com marks a strategic shift for [VP Capital]., allowing us to focus on our core investments, while ensuring that Currency.com receives the dedicated leadership and resources it needs to thrive under its new ownership,” said Nikolai Markovnik, a representative of VP Capital.
“We are confident that [CXNEXT] and its investors will drive the platform’s next stage of growth and innovation.”
