Crypto broker FalconX aquires majority stake in Monarq Asset Management

robot
Abstract generation in progress

FalconX has taken a majority stake in the parent company of Monarq Asset Management, a multistrategy crypto hedge fund, marking a significant move into asset management for the digital asset prime broker.

The deal, whose terms were not disclosed, is part of FalconX’s broader strategy to expand beyond its current client base, which includes hedge funds, trading firms, and asset managers, according to Bloomberg reporting

FalconX, which offers trading, credit, and custody services, now aims to serve endowments, pensions, and family offices seeking crypto-focused investment solutions.

Monarq, formerly known as MNNC Group, is registered in the Cayman Islands and was launched by the team behind LedgerPrime

CEO Shiliang Tang, a former Wall Street volatility trader, stated that the FalconX partnership will help scale Monarq’s quantitative strategies and expand its institutional reach

Monarq currently manages several hundred million dollars using delta-neutral and directional strategies across centralized and decentralized platforms.

FalconX’s acquisition push

This acquisition comes as FalconX accelerates its push into asset management amid anticipated consolidation in the digital assets space. In January, FalconX also acquired derivatives firm Arbelos Markets, co-founded by Tang. The company, valued at $8 billion in 2022, plans further acquisitions over the next year or two.

“We are actively engaged with potential acquisition targets,” said Austin Reid, FalconX’s global head of revenue and business. “We’re expecting a wave of consolidation in digital asset private markets.”

FalconX also recently partnered with Standard Chartered to expand its institutional crypto offerings

The partnership integrates banking and foreign exchange services, facilitating faster cross-border settlements and targeting expansion across Asia, the Middle East, and the U.S., while both companies foresee growth in the cryptocurrency market.

The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)