Blockchain.com Acquires AI Firm to Expand Institutional Offering

London-based AiX is the developer of an AI chatbot for negotiating OTC trading.

May 5, 2021 at 12:27 p.m. UTC
Updated Sep 14, 2021 at 12:50 p.m. UTC

Cryptocurrency exchange and wallet provider Blockchain.com has acquired Artificial Intelligence Exchange (AiX).

  • Terms have not been disclosed for the acquisition of the London-based developer of an artificial intelligence (AI) negotiating and matching engine for over-the-counter (OTC) trading.
  • The acquisition will help drive the rapid growth of Blockchain.com’s institutional offering, according to a blog post by Blockchain.com CEO Peter Smith on Wednesday.
  • AiX’s team boasts employees with experience at firms such as JPMorgan and Goldman Sachs, Smith added.
  • Blockchain.com raised $300 million in Series C funding led by partners of DST Global, Lightspeed Venture Partners and VY Capital in March, which valued the company at $5.2 billion.
  • That came only a month after a funding round led by Google Ventures valued the company at $3 billion.
  • These funding rounds were followed in April by a $100 million investment by Baillie Gifford, a 110-year old asset management firm with $445.3 billion in assets under management (AUM).

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.