UK Crypto Exchange Archax to Buy Spanish Broker King & Shaxson Capital Markets to Expand in Europe
UK-based Archax has agreed to acquire the Spanish broker King & Shaxson Capital Markets (KSCM) to expand its operations within the European Union. The acquisition is aimed at enhancing Archax's brokerage, multilateral trading facility (MTF), and custody services in response to the upcoming implementation of the European Union's Markets in Crypto-Assets (MiCA) regulation. The completion of the deal is contingent on obtaining regulatory approval in Spain, although the financial details of the transaction were not disclosed. Founded in 2019 in Madrid, KSCM primarily serves pan-European institutional clients and will transition into a wholly owned subsidiary of Archax. Graham Rodford, CEO of Archax, emphasized the acquisition's strategic importance for expanding the firm's regulatory presence in Europe post-Brexit and integrating cryptocurrency derivatives into its service offerings.
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