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Singapore-Based Digital Marketplace Alta Acquires Hg Exchange

The digital securities exchange uses blockchain technology to make it easer to put money into alternative investments.

By Jamie Crawley
AccessTimeIconOct 31, 2022 at 1:38 p.m. UTC
Updated May 9, 2023 at 4:01 a.m. UTC
(Shutterstock)
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Singapore-based digital marketplace Alta has acquired digital securities exchange Hg Exchange, or HGX.

Financial terms weren't disclosed. HGX will become a subsidiary of Alta and be renamed Alta Exchange.

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    • Alta lists Phillip Securities, Nomura Holdings, Integra Partners and Prime Partners as shareholders, according to an emailed statement.

    HGX is a digital securities exchange that uses blockchain technology to make it easier to invest in real estate, private equity and other alternative investment classes.

    Alta's aim with the acquisition is to offer tokenization and digital custody of alternative assets. Formerly known as Fundnel, Alta rebranded itself with the goal of offering alternative assets to a broader group of investors through a digital marketplace.

    The firm said it has generated over $600 million in transactions and created access to more than $22 billion worth of deals for its investors.

    Read more: How Crypto Traders Are Reinventing Venture Capital



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    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

    Jamie Crawley is a CoinDesk news reporter based in London.

    Follow @JamieCrawleyCD on Twitter

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