A family office-backed cryptocurrencycurrency investment company called Deus X Capital has agreed to buy institutional digital assets provider HAYVN for an undisclosed sum.
HAYVN, an Abu Dhabi-based cryptocurrencycurrency trading firm, operates an over-the-counter (OTC) and custody platform for digital currencies. According to Reuters, HAYVN was soliciting investors for a Series B investment in 2022, with the goal of eventually going public.
In a release, Deus X Capital stated that a mutual agreement has been reached with HAYVN shareholders to purchase the company’s brand, technology, clients, and employees in a transaction that the parties want to complete by March 28, 2024.
Richard Crook has been named the new CEO of HAYVN, with a focus on expanding the company. Before joining HAYVN, Crook was the COO of BCB Group, a digital assets payments company, the head of new technologies at RBS, and senior management positions at UBS.
This deal will allow the cryptocurrencycurrency investing firm to grow its position in the Middle East. In December, HAYVN CEO Christopher Flinos resigned due to unexplained circumstances.
“We are committed to providing institutional clients with the necessary services they require to capitalise on the current and growing opportunity in digital assets, while also building and developing new capabilities. HAYVN is fundamental to our strategy and is another pillar of our commitment to the Middle East,” stated Tim Grant, CEO of Deus X Capital, in a press statement.
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