Acquisition expands VersiFi's digital asset
trading technology to include direct market access and smart order
routing developed by Manifold Capital Partners; company to expand
in UAE
NEW YORK and ABU DHABI, UAE, May 23,
2024 /PRNewswire/ -- VersiFi, the digital asset trading and
lending firm, today announced it has acquired Ather Digital for an
undisclosed amount. The deal, which closed in May, bolsters
VersiFi's suite of trading technology to include direct market
access (DMA), algorithmic trading and smart order routing
(SOR).
Ather Digital was spun out of Manifold Capital Partners
("Manifold"), a systematic quantitative investment firm, in 2022.
Its technology was developed in partnership with Manifold and other
HFT hedge funds specifically to meet their digital assets trading
requirements and will be integrated into VersiFi's trading and
lending platform. Manifold and other leading investors will now be
minority shareholders in VersiFi.
"This acquisition accelerates our product strategy and gives us
a comprehensive suite of trading solutions earlier than
anticipated," said Sameer Shalaby,
founder and co-CEO of VersiFi. "Built with the needs of
quantitative investment managers in mind, Ather's technology has
exceptional performance, efficiency and interoperability
characteristics that can translate into significant cost savings
for clients. We are delighted to welcome the Ather team to VersiFi
and together launch these capabilities to market."
In addition, Ather Digital's team of developers and Abu Dhabi office are now part of VersiFi, and
founder and chief technology officer, Sidharth Sankhe, has taken the role of Head of
Quant Trading Technologies as part of VersiFi's executive
leadership team. VersiFi also has plans to grow its presence in the
UAE.
"We are excited to back such a powerful and proven team. VersiFi
is perfectly equipped to turn Ather's vision into reality," said
Jae Chung, founder and CEO of
Manifold Capital Partners. "With so many ways to collaborate,
Manifold will be giving maximal support to VersiFi as they continue
to scale."
"We, alongside Ather's other institutional investors, are
excited to partner with VersiFi's leadership team to continue our
efforts in taking Ather's technology to market," said Richard Blankenship, Founder & General
Partner of Dream Ventures. "VersiFi's vision is complementary to
Ather's – and ours – and we are confident that their combined
technology and teams will create a highly differentiated industry
offering."
About VersiFi
VersiFi is a digital asset trading and
lending firm that combines a high-tech platform with high-touch
services to help institutions trade and borrow efficiently.
VersiFi's plug-and-trade platform provides a single point of access
for trading, borrowing, and lending, as well as custody services
provided by third-party partners. Led by a team of proven industry
professionals, VersiFi is determined to help digital assets reach
their fullest potential. For more information visit
www.versifi.io.
CONTACT INFORMATION
Jennifer
Berlin
Forefront Communications for VersiFi
+44 (0) 7375 288 641
jberlin@forefrontcomms.com
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