Xalles to acquire cryptocurrency firm Vigor Crypto Holdings
By Pavithra R
Xalles, a FinTech holding company leveraging blockchain technology for financial reconciliation and payment auditing solutions, has announced its plan to acquire Vigor Crypto Holdings. The acquisition is expected to close on January 15, 2021, per the share exchange agreement.
Vigor Crypto Holdings is a boutique cryptocurrency firm and has been enhancing its cryptocurrency trading strategies using trading engines or bots and has achieved tremendous success during the past two years. The firm currently has active BTC-USD and LINK-USD trading pairs that have generated profitable transactions on a daily and monthly basis.
Both Xalles and Vigor crypto has been working together since June 2020, developing proven trading strategies in test environments with a variety of cryptocurrency pairs. A trading pair is a function whereby two different currencies can be traded between one another.
“The acquisition of Vigor Crypto Holdings enables Xalles to gain instant trading access, including Bitcoin and Chainlink cryptocurrencies. We are so pleased with the trading results Vigor Crypto has achieved that we expect to increase company revenue and profit by licensing our IP with potential customers by demonstrating our in-house results,” said Thomas Nash, Chief Executive Officer at Xalles Holdings.
Through the acquisition, Xalles plans to use the Vigor Crypto strategies and results to assist in licensing opportunities of the intellectual property. Additionally, the deal provides Xalles access to crypto-assets, trading and institutional access to license trading strategies. Vigor Crypto currently targets high net worth investors and institutional trading firms seeking to participate in the cryptocurrency markets.
Established since 2002, Xalles Holdings is a public FinTech holding company specialising in payment solutions and related businesses. Xalles Financial Services is a wholly-owned subsidiary of Xalles Holdings.
IBSi Prime News
October 21, 2021
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