Saxo Bank’s Co-Founder Places Funds Into Skynet Trading
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Saxo Bank’s co-founder, Lars Seier Christensen, has invested an unannounced amount of money into Skynet Trading, through Seier Capital, the bank’s investment arm. According to the report, Skynet also received funding from Edessa Capital.
The two investors become the first Skynet’s non-affiliated private investors. Before now, the company was self-financed by its co-founders. The funding came at a time when the value of Bitcoin and many other cryptocurrencies in dollars were nearing their topmost level.
Skynet’s Co-Founder Shares Excitement On Receiving The Two New Stakeholders
A Co-founder of Skynet reported that making Edessa Capital and Seier Capital stakeholders in the company signifies a major step forward for the company. The funding will help provide strategic inputs that are vital for Skynet Trading.
Christensen is one of the experts in the industry who sees the similarity between FX and the digital asset markets of today. He is known as the Saxo Bank’s co-founder, Denmark headquarters.
He now manages about EUR 95 billion in customer assets and has served as the co-Chief Executive Officer for around 20 years. He liquidated his investment in the brokerage in 2017 to set up Seier Capital.
One of the notable investments of Christiansen is the co-ownership of Copenhagen, a popular Danish football team.
In contrast, Edessa Capital was established by partners who were co-managers at Arrington Capital. The financing fund focuses its investments on firms in the digital asset realm.
A spokesperson from Edessa reported that the company’s team is thrilled to invest in Skynet Trading. The business has successfully managed through various market cycles. Members of the group are excited to assist Skynet’s talented team.
Saxo Bank Considers The Sale Of Its Minority Or Majority Stake
Saxo Bank is considering selling its minority or majority holding for about EUR 1.5 billion to EUR 2 billion. The Danish broker previously failed to seal a SPAC-deal that was projected to take it public.
The bank provides trading via its online platform in stocks, Forex, funds, futures, futures spread, and bonds. The company operates an online broker, though possesses a bank license, without providing traditional banking products.
Saxo revealed that about half of its activities are gotten from collaborations with institutional trading partners. Over 100 financial institutions around the globe use the bank’s platform under their branding to attend to their end customers.
The bank is centered in Copenhagen with offices in Tokyo, India, Singapore, Dubai, Paris, Zürich, and London. As reported by the bank, it has customers in 180 nations and maintains an average daily turnover of about US$12 billion. It is renowned for its success in online investment and trading and holds awards. The bank previously revealed a total of 1600 staff in its network.
