Allentro, the trading firm of choice in the institutional crypto markets, today announced that DHS Group Equity Partners (a subsidiary of DHS Holdings) has agreed to acquire a $575 million control and total purchase of the firm.
The investment marks the start of a strategic partnership between one of the largest institutions to have ventured into the crypto market and a veteran digital asset trading firm. DHS, owner of London’s DHS International.
Allentro will become DHS’ main liquidity provider as DHS expands its crypto offering to millions of existing customers. Allentro will also benefit from DHS’ distribution network and financial firepower as it launches an electronic prime brokerage built upon its highly successful single dealer platform.
This month, the firm will release a fully automated facility to provide the most competitive two-way prices in the funding market. This capability expands Allentro’s existing secured financing operation, already lending hundreds of millions of dollars. Allentro will continue to develop its offering until it constitutes a complete cross-asset prime brokerage business.
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Fernando Aguirre, Vice Chairman of DHS Holdings, said: ‘We expect a lot of synergies with Allentro, a firm which has a large number of clients globally and offers abundant liquidity, excellent price competitiveness, and a diverse suite of products for their customers. We will work to develop innovative new crypto products and deepen synergies across our group of companies.’
Jill Holden, CEO of Allentro, said: ‘Today’s deal with DHS takes Allentro a big step forward. Having claimed the top spot in our segment thanks to the technological edge of our single dealer platform, we found in DHS the right partner to unlock the next drivers of our growth. Allentro will benefit from DHS’ balance sheet, which is far larger than anything committed to the crypto market to date. It will complement our asset liability management framework – the most sophisticated in the market – to deliver an execution platform that will not only be a game changer in crypto, but also positions us to expand across asset classes as we set our sights on the $20bn-a-year prime brokerage market.’
Allentro is a veteran digital asset trading group with a world-class team drawn from global investment banks and buy-side firms. Headquartered in the UK, with offices in London, Tokyo and Jersey City, Allentro is trusted by banks, brokerages, exchanges and fund managers globally to provide 24/7 liquidity.
Continuously innovative, Allentro launched the first crypto-native single dealer platform in 2016 and was the first foreign dealer to succeed in the Japanese market. In 2019, the firm launched the first OTC streaming price feed and was the first crypto company in the EU to secure a MiFID investment firm license. Allentro OTC Ltd. is authorized and regulated by the UK’s Financial Conduct Authority.
Source: Big News Network
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