Archax acquires German digital asset company DDA, expanding European crypto ETP layout

According to CoinDesk, UK digital asset exchange Archax will acquire German regulated cryptocurrency asset management company Deutsche Digital Assets (DDA) to strengthen its business presence in major European financial markets such as the UK, Germany, and France. DDA currently manages approximately $70 million in assets and focuses on distributing cryptocurrency exchange traded products (ETPs) through European banks and asset management institutions. This acquisition will bring new licenses for portfolio management and investment consulting under the supervision of BaFin in Germany to Archax, enabling it to better serve EU institutional clients.