Crypto platform DeFi Technologies to acquire trading desk Stillman Digital
Analysts say the all-stock deal will transform the Canadian crypto platform into “a smaller version of Galaxy Digital.”
On July 9, DeFi Technologies (CBOE CA: DEFI) agreed to buy trading desk Stillman Digital in an all-stock deal that analysts say will transform the Canadian crypto platform into “a smaller version of Galaxy Digital.”
The buyout, which valued Stillman at approximately CA$4.22 million ($3.1 million) as of the close of trading July 8, “is a strategic step that not only expands our capabilities in the trading sector but also diversifies our client base and revenue streams,” DeFi Technologies CEO Olivier Roussy Newton said. The deal has been agreed to but not yet completed, according to the statement.
“The resulting DeFi platform, which would combine crypto asset management, execution trading, and proprietary trading, would be akin to a smaller version of Galaxy Digital, in our view, as it would include variations on Galaxy’s product offerings,” Mark Palmer, an equity research analyst at The Benchmark Company, told Cointelegraph in an email.
Analysts say the all-stock deal will transform the Canadian crypto platform into “a smaller version of Galaxy Digital.”
On July 9, DeFi Technologies (CBOE CA: DEFI) agreed to buy trading desk Stillman Digital in an all-stock deal that analysts say will transform the Canadian crypto platform into “a smaller version of Galaxy Digital.” The buyout, which valued Stillman at approximately CA$4.22 million ($3.1 million) as of the close of trading July 8, “is a strategic step that not only expands our capabilities in the trading sector but also diversifies our client base and revenue streams,” DeFi Technologies CEO Olivier Roussy Newton said. The deal has been agreed to but not yet completed, according to the statement.“The resulting DeFi platform, which would combine crypto asset management, execution trading, and proprietary trading, would be akin to a smaller version of Galaxy Digital, in our view, as it would include variations on Galaxy’s product offerings,” Mark Palmer, an equity research analyst at The Benchmark Company, told Cointelegraph in an email. Read more