Alta, previously known as Fundnel, has announced the acquisition of the Hong Kong-based private digital securities exchange Hg Exchange (HGX).
The acquisition will enable Alta to support the tokenization and digital custody of alternative assets, creating an end-to-end solution that makes it cheaper and faster to trade private securities, funds, and asset-backed securities like real estate, and luxury assets. The deal will see HGX become a wholly-owned subsidiary of Alta. Alta will also list Phillip Securities, Nomura Holdings, Integra Partners, and Prime Partners as shareholders. The acquisition comes hot on the heels of Alta’s recent rebrand from Fundnel and supports the firm’s vision and mission of ‘alternative assets for all’ – creating a marketplace that gives everyone access to alternative asset investments.