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

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.

  • Meme Coin Liquidity Hits Record High
    00:46
    Meme Coin Liquidity Hits Record High
  • How Ledger Stax Plans to Make Self-Custody More Mainstream
    16:42
    How Ledger Stax Plans to Make Self-Custody More Mainstream
  • Why Dogecoin Is a 'Weird' Investment
    16:39
    Why Dogecoin Is a 'Weird' Investment
  • AI Tokens Surge as Nvidia Becomes World’s Most Valuable Company
    00:47
    AI Tokens Surge as Nvidia Becomes World’s Most Valuable Company
  • 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.





    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.