Alta buys private securities platform Hg Exchange from Binance, others
ALTA, previously known as Fundnel, has fully acquired Singapore-based private digital securities exchange Hg Exchange (HGX) for an undisclosed sum as it looks to expand its business lines and grow regionally. The deal comes on the back of rising interest in alternative assets and more avenues for liquidity.
Alta’s digital marketplace gives investors access to investments such as shares of early to late-stage private companies, and private equity and venture capital funds.
The company said the acquisition of HGX will allow it to support tokenisation and digital custody of alternative assets. Alta is building an end-to-end solution that makes it cheaper and faster to trade private securities, funds and asset-backed securities such as real estate and luxury assets.
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