Genesis Trading Buys Crypto Custodian Vo1t in Bid to Become Prime Broker
Digital currency trader and lender Genesis Global Trading is moving toward full-service prime brokerage with the acquisition of crypto custodian Vo1t, the company announced Thursday.
The New York-based trading firm, which is a subsidiary of CoinDesk parent firm Digital Currency Group, acquired Vo1t to begin developing a full suite of prime brokerage services under one roof including lending, trading and custody. The terms of the deal were not disclosed.
“We’re coming at this after having a successful business on the trading and lending side,” said Genesis CEO Michael Moro. “The goal is for clients to be able to do any and all activities with Genesis.”
Moro wouldn’t put a figure on the number of liquidity providers Genesis is aiming to plug into.
“The answer is as many as we can that we ...