Archax acquires German digital asset firm DDA to expand European crypto ETP layout

Odaily News Archax, a British digital asset exchange, will acquire Deutsche Digital Assets (DDA), a German regulated crypto asset management company, to strengthen its business layout in major European financial markets such as the UK, Germany and France. DDA currently manages approximately US$70 million in assets and focuses on distributing crypto exchange-traded products (ETPs) through European banks and asset management institutions. The acquisition will bring Archax new licenses such as portfolio management and investment consulting under the supervision of Germanys BaFin, enabling it to better serve EU institutional clients. (CoinDesk)