CMC Markets A Major Stake Acquisition of StrikeX
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Contracts for differences (CFDs) provider, CMC Markets, has announced the acquisition of more stakes in StikeX Technologies, a blockchain company. According to CMC Markets, its stake has increased from 33% to 51%, making it the major shareholder in the company.
The acquisition will give CMC Markets Direct Control Over StrikeX
Following the acquisition, the company will now have direct control over the product roadmap and technology of StrikeX. The acquisition also means StrikeX is completely integrated into the CMC Market group.
CMC Markets says it will speed u development, global distribution, and regulatory approvals of StrikeX’s digital finance solutions.
Also, CMC has bought more STRX cryptocurrency tokens, increasing the tokens from 10 million to 15 million. But the financial terms of the acquisition were not disclosed.
Chief Executiev Officer and Co-Founder of CMC Markets, Lord Peter Cruddas, commented on the development. “This majority acquisition represents a significant step forward in our ambition to lead in digital assets,” he said.
CMC Markets operates from its London headquarter, but has offices across other region. The company’s first dealing with StrikeX was in 2023 when it acquired its initial stake. The acquisition marked CMC’s entry into the blockchain market. But the broker later wrote off the £2.8 million investment, admitting that it is unrecoverable. Since then, the firm has strengthened its position in the blockchain sector. CMC has continued to throw its weight behind the operation of strike despite some challenges the company has faced along the way.
CMC Wants To Explore More Blockchain Capabilities
CMC stated that the acquisition of a majority stake in StrikeX is a strategic move to get more involved in the blockchain space. It will help to further strengthen CMC’s digital strategy, offering direct access to tokenized asset solutions, Web3 infrastructure, and proprietary blockchain technology.
Lord Cruddas added that the CMC team is developing a future-ready platform that will offer institutional grade access to the next generation of financial services and blockchain-powered solutions. The platform wants to expand its operations and services through the acquisition of StrikeX.
In accordance to its expansion goals, CMC Markets has opened a new office in Bermuda. The platform recently received an operational license from the Bermuda Monetary Authority (BMA) as it continues its global expansion plans. CMC Markets also inked a deal with Revolut, making the firm its white-label technology provider. The collaboration also includes the expansion of its services to three European countries where Resolut has new offices.
