Will Canny is a finance reporter at CoinDesk.n
Archax, a U.K.-regulated crypto exchange and custodian, agreed to buy Spanish broker King & Shaxson Capital Markets to expand in the European Union as the trading bloc's
Completion of the deal is subject to regulatory approval in Spain, the London-based company said Thursday. The value of the transaction was not disclosed. KSCM started in Madrid in 2019 to service pan-European institutional clients. Following the acquisition, it will become a wholly owned subsidiary of Archax. The acquisition will enable the Financial Conduct Authority -registered company to extend its existing brokerage, multilateral trading facility and custody services into Europe while adding crypto derivatives to its permissions.
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