Financial services provider, Apex Group, announced that it was acquiring a majority stake in Tokeny, an enterprise-grade tokenisation solutions provider. Even though the partnership took shape back in December 2023, Apex Group will start taking full control of Tokeny over the next three years, a press release stated. The move marks a clear signal that Apex Group believes in the transformative potential of tokenisation for asset managers and institutional finance.
The merger will see both Tokeny’s talent and technology become part of Apex Group. They aim to see an effortless integration within the firm and efficiently meet client needs. The press release didn’t disclose the contours of the M&A, but it solidifies the notion that more traditional finance companies are now looking at using blockchain technology to move assets.
“Tokenisation is a foundational shift in how assets will be managed, distributed, and accessed. Our strengthened partnership with Tokeny is key to delivering on our vision to be the infrastructure provider in the digital era of finance,” said Peter Hughes, Founder and CEO of Apex Group.
Since the partnership, Tokeny has seen growing adoption of its technology and standards by leading financial institutions. The company has tokenized over $32bn in assets by creating ERC-3643, the technical market standard for compliant tokenization.
Apex Group’s future strategy is to lead the transformation of asset servicing by leveraging Web3’s blockchain technology, decentralised protocols, smart contracts, and distribution to enhance efficiency, security, and transparency, it stated in its press note. For far Tokeny has successfully executed over 120 use cases across five continents and facilitated 3 billion onchain transactions and operations.