Blockchain.com, a crypto wallet & exchange solutions provider, announced it has acquired the OTC trading and execution business of Singapore altcoin provider Altonomy to help grow its institutional business.
Founded in 2018, Altonomy is a leader in altcoin spot trading. Just last year Altonomy executed over $16B in OTC volume, specializing in high-growth altcoins.
“2021 was a watershed year for institutional interest in crypto. Our business saw over $4B in loan originations, over $10B of trading volume, and hundreds of newly onboarded clients. There is so much growth ahead, so we’re excited to add Altonomy’s proprietary execution technology, expert team, and clients to the Blockchain.com institutional business.”
– The Blockchain.com Team
With the acquisition, 26 members of the Altonomy team will join Blockchain.com, scaling the company’s execution capabilities, time zone coverage, and product scope.
Tony Sun, Altonomy’s co-founder, who started the business and oversees trading, will join Blockchain.com as the new co-head of institutional trading.
Furthermore, Blockchain.com welcomes Yaqing Bie, who runs engineering and built the OTC and execution platform, as the new head of execution technology.
Lastly, Altonomy’s compliance head, Benjamin Toh will become head of compliance for Singapore; and institutional sales lead Ervin Lim will lead sales in Asia.