VersiFi, a NYC-based digital asset trading and lending firm, today announced it has acquired Ather Digital, an Abu Dhabi, UAE-based spun out of Manifold Capital Partners, a systematic quantitative investment firm.
The amount of the deal was not disclosed.
With the acquisition, VersiFi will expand its digital asset trading technology to include direct market access and smart order routing developed by Manifold Capital Partners.
Ather Digital was spun out of Manifold Capital Partners, a systematic quantitative investment firm, in 2022 to provide technology was developed in partnership with Manifold and other HFT hedge funds specifically to meet their digital assets trading requirements and will be integrated into VersiFi’s trading and lending platform. Manifold and other leading investors will now be minority shareholders in VersiFi.
In addition, Ather Digital’s team of developers and Abu Dhabi office are now part of VersiFi, and founder and chief technology officer, Sidharth Sankhe, has taken the role of Head of Quant Trading Technologies as part of VersiFi’s executive leadership team. VersiFi also has plans to grow its presence in the UAE.
Led by Sameer Shalaby and Martin Garcia, VersiFi is a digital asset trading and lending firm that combines a high-tech platform with high-touch services to help institutions trade and borrow efficiently. Its plug-and-trade platform provides a single point of access for trading, borrowing, and lending, as well as custody services provided by third-party partners.
FinSMEs
23/05/2024