Archax to Acquire Deutsche Digital Assets to Expand European Presence

According to PANews, British digital asset exchange Archax is set to acquire the German regulated crypto asset management firm Deutsche Digital Assets (DDA). This strategic move aims to enhance Archax's operations in key European financial markets, including the United Kingdom, Germany, and France. DDA currently manages approximately $70 million in assets, focusing on distributing crypto exchange-traded products (ETPs) through European banks and asset management institutions. The acquisition will provide Archax with new licenses under Germany's BaFin regulation for portfolio management and investment advisory services, enabling better service to EU institutional clients.