Web3 Investco Acquires Luxembourg Crypto Platform Blocktradeby Fintechnews Switzerland September 26, 2022
Zug-based private equity firm Web3 Investco has signed a definitive agreement to buy 100 percent of the voting shares of Luxembourg-based digital asset exchange Blocktrade from the Elite Club Foundation.
Blocktrade was founded in 2018 before being acquired by Swiss fintech venture builder Cryptix in August 2019. The company has seen three CEOs since its founding, with the latest being Christian Niedermüller in February 2022.
The company, which also holds Virtual Asset Service Provider registrations in Estonia and in Italy, aims to build the go-to crypto investment platform for all things around gamification, social gaming and networking.
“Blocktrade will highly benefit from the vast industry knowledge and extensive network of its new shareholder and the people behind it.
Once acquired the necessary licenses, we plan to list many new assets and asset classes followed by their communities and will pivot into the area of gaming, skill/social gaming and everything around network effects in the next half year,”
said Christian Niedermüller, CEO of Blocktrade and board member of its new shareholder Web3 Investco AG.