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.
Oct 31, 2022 at 1:38 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/JETE4322M5EH3CNGJZ5A23HBTU.jpg)
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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.
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.
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Jamie Crawley is a CoinDesk news reporter based in London.