Cryptocurrency trading platform CrossTower announced that it has reached an agreement to acquire BEQUANT, a prime brokerage and digital asset exchange, for an undisclosed amount. CrossTower also announced the launch of the first ESG Crypto Fund, in partnership with the Lydian Group, to invest in and rebuild companies that have promising futures.

BEQUANT, with its institutional trading and prime brokerage platform, will enable CrossTower to expand its suite of professional grade products for a global market, covering the US, Bermuda, Europe, Latin America, and Asia. Through this acquisition, CrossTower will add over 600 professional exchange clients, generating over $400 billion of yearly turnover with more than a dozen exchanges connected to its platform.

This transaction has been backed by the Lydian Group, founded by tech industry veterans Gerard Lopez, Co-Founder of Mangrove Capital and global tech investor, and Greg Fishman, tech entrepreneur and software architect in AI technology.

Kapil Rathi, CEO of CrossTower, said:

“We are stabilizing an industry with incredible promise; regaining trust; and rebuilding the future of finance. Rebuilding requires capital and a management team with regulatory and operational expertise. With the launch of our fund and the BEQUANT acquisition, we are positioning CrossTower to lead the growth of this industry, with proper regulatory oversight, integrity, and accountability.