Genesis set to launch prime brokerage offering with acquisition of Vo1t
22 May 2020 New York
Image: bestfoto77/Shutterstock
Genesis, a firm specialising in digital currency and lending, has acquired Vo1t, a London-based insured digital custody service.
The acquisition will add to Genesis’ existing services, which include over-the-counter trading and institutional lending. It will also enable the launch of its prime services offering later this year.
Genesis said it plans to build an integrated client interface, create additional technology solutions, launch a derivatives trading desk, and add capital introduction capabilities for hedge funds, quant funds, asset managers, and family offices.
It is also set to expand its international team with new offices in London and Singapore.
Michael Moro, CEO of Genesis, said: “Our acquisition of Vo1t is a giant strategic step forward in our quest to become the world's first full-service digital currency prime broker.”
“The Vo1t team has renowned expertise across cybersecurity, collateral management, quality assurance, and governance. They’re a natural fit as Genesis develops a more robust and secure digital currency platform to increase access to deep pools of liquidity while increasing capital efficiency for our counterparties.”
Miles Parry, CEO and co-founder of Vo1t, added: “Combining our secure custody technology with Genesis’ market-leading trading and lending operations will create a powerful one-stop-shop for professional investors around the world. I look forward to the opportunities ahead as we continue to solve the market’s evolving needs.”
The acquisition will add to Genesis’ existing services, which include over-the-counter trading and institutional lending. It will also enable the launch of its prime services offering later this year.
Genesis said it plans to build an integrated client interface, create additional technology solutions, launch a derivatives trading desk, and add capital introduction capabilities for hedge funds, quant funds, asset managers, and family offices.
It is also set to expand its international team with new offices in London and Singapore.
Michael Moro, CEO of Genesis, said: “Our acquisition of Vo1t is a giant strategic step forward in our quest to become the world's first full-service digital currency prime broker.”
“The Vo1t team has renowned expertise across cybersecurity, collateral management, quality assurance, and governance. They’re a natural fit as Genesis develops a more robust and secure digital currency platform to increase access to deep pools of liquidity while increasing capital efficiency for our counterparties.”
Miles Parry, CEO and co-founder of Vo1t, added: “Combining our secure custody technology with Genesis’ market-leading trading and lending operations will create a powerful one-stop-shop for professional investors around the world. I look forward to the opportunities ahead as we continue to solve the market’s evolving needs.”
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