Blockchain.com Acquires OTC Platform Altonomy for $250M

Blockchain.com, a crypto wallet and exchange provider, has just announced it has purchased Altonomy, an over-the-counter platform specializing in providing liquidity in altcoins, The Block has reported.

The company has reportedly paid a total of $250 million in cash and stocks.

Altonomy, which was founded back in 2018 in Singapore and last year had a turnover of $16 billion, will allow Blockchain.com to expand its trading activities and presence in Asia. Thanks to the agreement, the company’s institutional clients will have access to a wider range of crypto assets.

Among other things, Blockchain.com has refused to obtain a license from the UK regulator FCA. March 31 is the deadline for the regulator to approve compliance with the AML regime. Until now, the company was included in the temporary register that allowed it to operate in the country.

The company is now looking at Lithuania, the United States and Ireland as possible jurisdictions to register a company, and also plans to obtain a license in Germany.