Currency.com Sets To Expand Operations To Institutional Investors

Currency.com is expecting an investment from N7 Capital as the company plans to boost its crypto and trading intersection business. N7 is a private equity fintech company. The firm noted that it has signed a Letter of Intent with Currency.com’s parent company, CXNEST LTD, for a takeover agreement.

While the financial details of the deal have not been made public, N7 Capital has reiterated its support for Currency.com’s traditional finance sector as the digital asset economy continues to evolve.

Currency.com Plans To Update Its Leadership Team

The agreement on the acquisition will also see some leadership changes. Currecny.com will update its leadership team as the company prepares for a wider international expansion in the industry. Chief Executive Officer and founder of N7, Anton Chashchin, is expected to become part of CXNEST LTD after the acquisition deal is done. However, he will join the board as a non-executive member.

Chief Executive Officer of Currency.com, Konstantin Anissimov, commented on the development and Chashchin’s proposed new role. He noted that he will come along with strategic insight, deep operational experience, and a strong network of fintech services and relationship resources. These benefits will be highly needed as Currency.com tries to scale growth and expand its operations.

The support from N7 Capital is coming when digital asset firms are expanding their reach to retail-focused services. Currency.com wants to gain more local and international investors by upgrading its resources and expanding its product suite.

Currency.com Focuses on Strategic Shift For Sophisticated Investors

Currency.com is looking to expand its operations into international markets. With the support of N7 Capital, the firm will have more resources and deep knowledge to scale the market.

Apart from providing funds, N7 Capital is expected to help Currency.com reinforce its operational and governance structure to meet the needs of retail and institutional investors. Currency.com says it wants to focus more on institutional clients with the additional funding, hoping to reach international markets in the process.

Chashchin reiterated that the collaboration with Currency.com is not all about funding. It’s about offering support to a top digital finance firm through a period of value creation for the long term.

VP Capital stated that the acquisition deal was approved by the Gibraltar Financial Services Commission and the 28 state regulators in the U.S.

The sale is evidence that VP Capital is embarking on a strategic business shift. It will enable the firm to easily focus on its core investments while making sure that Currency.com has the dedicated resources and leadership it requires to grow under the new ownership.