Lukka acquires Blox Finance to expand data offering on crypto ecosystem
Lukka’s costumers rely on institutional-grade technology infrastructure with a breadth of coverage across blockchains, exchanges, wallets, and other venues and data sources.
Lukka has acquired Blox’s Crypto Accounting and Financial Data Management Software business as the enterprise crypto asset data and software provider looks to expand its footprint of data management software.
The deal includes Blox blockchain node infrastructure and intellectual property as Lukka aims to enable more advanced risk processes that will support its institutional customer base.
Institutional demand for reporting that touches both on-chain and off-chain data sources, like staking and Decentralized Finance (DeFi), continues to drive significant transaction volumes, but it also creates complexities in the middle and back-offices of businesses.
Firms will be required to adopt institutional-grade data and software solutions to support the rapid need for accounting, reconciliation, and reporting capabilities for crypto assets as regulatory scrutiny increases and crypto-business processes mature.
The acquired assets will be brought under Lukka’s institutional-grade, AICPA SOC 1 Type II and SOC 2 Type II infrastructure meeting the highest institutional standards.
Robert Materazzi, Chief Executive Officer at Lukka, said: “The acquisition of Blox Finance and its node infrastructure is a natural fit for Lukka, adding to our expansive crypto data management capabilities and blockchain coverage.
“This acquisition marks an exciting milestone that will help accelerate keeping pace with our customers’ innovation rate as they trade across the many new crypto financial products. The Blox team has been incredible to collaborate with and we are excited to explore other opportunities as well going forward.”
Alon Muroch, Chief Executive Officer at Blox, said: “We could not have wished for a better company to take over the Blox Finance product suite and blockchain infrastructure services. Lukka’s acquisition allows us to handover our tech and expertise to a leader in the space”.
“We have no doubt that Lukka will put our infrastructure to good use, and continue providing best-in-class Crypto back office solutions. Blox will shift its focus on developing decentralized ETH staking solutions and building the Secret-Shared-Validator network.”
Lukka’s costumers rely on institutional-grade technology infrastructure with a breadth of coverage across blockchains, exchanges, wallets, and other venues and data sources.
Acquiring Blox Finance will help the company to drastically expand data offerings for their enterprise data customers.
