KR1 receives $243,712 from Vo1t acquisition
(LON:KR1 ) announced that Genesis Trading has acquired Vo1t, a global custodian of blockchain assets, in a deal that will see KR1 receive proceeds from the sale of US$243,712.
Genesis Trading is a subsidiary of Digital Currency Group, an institutional trading firm focused on investment in cryptocurrencies and blockchain startups.
KR1, the digital asset investment firm, said it expects this to be paid in cash following the closing of the deal later today.
Vo1t is a London-based digital asset custodian that was seed funded by KR1 and which served as KR1’s main digital asset custody solution from the early stages of the company.
Shares in KR1 closed at 6.6p on Thursday afternoon.
KR1 said it will evaluate Genesis Trading’s and Vo1t’s combined offering after their integrations are complete but will also explore alternatives in the digital asset custody sector.
“It’s good to see equity deals go full circle to an exit in the crypto space,” said George McDonaugh, Managing Director & Co-Founder of KR1.
McDonaugh said the group’s focus remains “on more liquid digital assets” and that it was seeing “great opportunities” despite current market conditions.
He added that these opportunities spanned both newly forming projects as well as in the digital asset secondary markets.
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