Genesis Global Trading Acquires UK Custody Service Vo1t
One of the largest custodial services in the UK, Vo1t has become part of a larger over-the-counter holding Genesis Global Trading. The financial details of the deal are not disclosed.
We just announced our acquisition of @Crypto_Vo1T, a custody provider specialising in high-end, military-grade encryption technology. We also made our first public announcement about something we’ve been building towards for years - Genesis Prime. https://t.co/FyDAdPq45h
— Genesis Global Trading (@GenesisTrading) May 21, 2020
As a matter of fact, Vo1t provides lending, staking, and storage for more than 35 cryptocurrencies. It has a large customer base, including FTSE stock index members.
This acquisition opens up new horizons for Genesis Global Trading, thus it can become a Genesis Prime broker. In other words, institutional crypto investors will now be able to get all the necessary services in one place.
Recall, Genesis Global Trading provided loans to its customers for about $2 billion in the first quarter of 2020 alone.