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Cryptocurrency derivatives exchange FTX has acquired Blockfolio, the market’s main cellular information and portfolio monitoring app, for $150 million. The price was paid in cash, crypto and fairness, the businesses advised Fintech Zoom.
Formally introduced Wednesday morning in Asia, the deal is a strategic play for FTX, whose clientele consists largely of quants {and professional} merchants, to draw extra retail clients.
9 months in the past, the businesses started discussing plans to construct a retail-focused cryptocurrency product collectively. These discussions finally morphed into merger talks.
Whilst one of many latest exchanges, FTX has grown at warp pace since its founding final 12 months.
