UK Asset Management Giant Abrdn Leads Archax $28.5M Funding Round

Archax is now working on a range of crypto exchange-traded products.

AccessTimeIconNov 9, 2022 at 2:52 p.m. UTC
Updated May 9, 2023 at 4:01 a.m. UTC
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Abrdn (ABDN), one of the U.K.'s biggest asset-management firms, led a $28.5 million Series A funding round into digital asset exchange Archax, having become the firm's largest external shareholder earlier this year.

The investment into the Financial Conduct Authority-licensed firm included backing from the Tezos Foundation, Bitrock Capital and CE Innovation Capital among others.

Archax allows institutional investors to custody and trade digitized securities – tokenized versions of real-world assets – alongside traditional securities and cryptocurrencies. It says it was the first exchange offering digitized securities to win registration with the FCA and is now working on a range of crypto exchange-traded products (ETPs).

Abrdn, which manages 464 billion British pounds ($532 billion) in assets, became Archax's largest external shareholder in August this year after making an undisclosed investment in the exchange.


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Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

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