Lukka acquires Blox Finance to expand data offering on crypto ecosystem

Rick Steves

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.

Read this next

blockdag

These Altcoins Have The Potential To Make You a Millionaire in 2024

The crypto market is witnessing a surge, and certain alternate coins are catching attention for their rapid growth.

Digital Assets

Point72 invests $77.5 million in Bitcoin, Morgan Stanley holds $269.9 million

Point72, the $34 billion hedge fund owned by billionaire and New York Mets owner Steven Cohen, held $77.5 million in the Fidelity Wise Origin Bitcoin Fund (FBTC) at the end of the first quarter, according to a recent filing.

Digital Assets

Binance claims Nigerian officials sought $150 million bribe

A Nigerian court has ruled that Tigran Gambaryan, a Binance executive detained on charges of tax evasion and money laundering, can stand trial on behalf of the world’s largest cryptocurrency exchange.

Digital Assets

Kraken reviews Tether listing in Europe ahead of MiCA adoption

Cryptocurrency exchange Kraken is “actively reviewing” whether to delist the stablecoin Tether (USDT) from its European platform, according to a report by Bloomberg.

blockdag

Discover How MoonBag Coin Presale Stacks Up Against Dogecoin & Litecoin

Discover how the MoonBag Coin presale compares to Dogecoin and Litecoin, with unique features, a robust presale structure, and new opportunities in 2024.

Fundamental Analysis, Market News, Tech and Fundamental

Global FX Market Summary: Federal Reserve Policy, USD, May 17 ,2024

Overall, both the Federal Reserve’s policy and the US dollar’s outlook are shrouded in some degree of uncertainty.

Market News, Tech and Fundamental, Technical Analysis

Ethereum Technical Analysis Report 17 May, 2024

Ethereum cryptocurrency can be expected to rise further toward the next resistance level 3200.00, which is the top of the previous impulse wave i.

Digital Assets

Hong Kong adopts digital yuan payments through Chinese banks

Hong Kong has launched a pilot program enabling digital yuan payments through major Chinese banks, marking the first instance of China’s digital currency project being deployed outside the mainland.

Retail FX

Saxo Bank increases client assets five-fold to $116 billion

Copenhagen-based broker Saxo Bank has achieved a major milestone, surpassing $116 billion (DKK 800 billion) in client assets.

<