Lukka, a provider of enterprise crypto-asset software and data solutions, acquired Blox Finance, the digital currency accounting, tracking and management software subsidiary of Blox, a provider of decentralized infrastructure and ETH staking.
According to a statement, Lukka has purchased the Blox blockchain node infrastructure and intellectual property. The agreement expands Lukka’s data management software footprint and “increases business coverage in addition to and adding more redundancy to existing data sets, enabling more advanced risk processes that will support the Lukka’s well-established institutional clientele, ânotes the announcement.
The acquired assets would be brought back to the institutional level of Lukka, AICPA SOC 1 Type II and SOC 2 Type II infrastructures âMeeting the highest institutional standards. “
âAcquiring Blox Finance and its node infrastructure is a natural fit for Lukka, adding to our extensive crypto data management capabilities and blockchain coverage,â said Robert materazzi, CEO of Lukka.
Robert added that this strategic acquisition marks a key milestone that should help accelerate the rate of innovation of these clients when trading on various crypto financial products. The Blox team has been “amazing to work with and we are excited to explore other opportunities in the future,” added Robert.
Said Alon Muroch, CEO of Blox, said:
âWe couldn’t have wished for a better company to take over the Blox Finance product suite and blockchain infrastructure services. The acquisition of Lukka allows us to transfer our technology and our expertise to a leader in the field. We have no doubt that Lukka will put our infrastructure to good use and continue to provide the best Crypto back office solutions. Blox will focus on developing decentralized ETH staking solutions and building the Secret-Shared-Validator network. “
The increased institutional demand for reports focused on on-chain and off-chain data sources, such as staking and decentralized finance (DeFi), “continues to drive significant transaction volumes in the ecosystem while creating complexities in middle and back-offices. enterprises.
The increased regulatory scrutiny and maturation of crypto business processes “will require companies to adopt institutional grade data and software solutions to meet the rapid need for accounting, reconciliation and reporting capabilities for crypto assets.”
The announcement also mentioned that Lukka would continue to “develop its on-chain services to meet the needs of its institutional clientele.”
Their clients depend on an institutional grade technology infrastructure with broad coverage across blockchains, exchanges, wallets, and other sites and data sources. The acquisition will also allow the company to expand its data offerings for its enterprise data customers.