Financial technology company DeFi Technologies has completed the previously announced acquisition of digital asset liquidity provider Stillman Digital and Stillman Digital Bermuda (collectively trading as Stillman Digital).
As part of the transaction announced in July this year, DeFi Technologies acquired all issued and outstanding securities of Stillman Digital for 2.5 million common shares of DeFi Technologies. Of these, one million shares are subject to a lock-up schedule and will be released over a year.
Based in the US, Stillman Digital delivers limitless liquidity solutions for businesses, focusing on trade execution, trade execution, market making and over-the-counter (OTC) block trading. The company’s trade volume is over $20bn since 2021.
Stillman Digital generates more than $500m in monthly trade volume, offering clients deep liquidity and 24/7 streaming prices.
Trade executions are available via a web portal or application programming interface (API), with price feeds aggregated from over 30 global exchanges and trading companies.
Additionally, Stillman Digital provides advanced order types and data streams for the top 300 digital tokens.
The company also manages an average trade size of over $2m in OTC block trading, processing more than $1bn in monthly trade volumes and on-ramping up to $80m daily into the crypto market.
Stillman Digital’s market-making services provide liquidity to central limit order book products, currently managing $400m in monthly volume.
By utilising its existing regulatory licences and proprietary technology, Stillman Digital aims to expand its market share within DeFi Technologies’ ecosystem.
The firm also offers secure storage solutions, using advanced encryption and multi-signature technology and insurance.
In addition, Stillman Digital intends to foster competitive currency exchange with access to a broad portfolio of fiat and digital asset pairs.
Stillman Digital CEO Jonathon Milks said: “We look forward to tapping into the DeFi team’s expansive network in the web3 industry to fuel customer acquisition and continue driving profitable growth, all while building on the robust technological and regulatory framework we’ve developed at Stillman over the last four years.”
For DeFi Technologies, the acquisition is in line with its strategic objectives. The deal is expected to strengthen its trading capacities and diversify both its customer base and revenue streams.
By bringing Stillman Digital into its operations, DeFi Technologies plans to internalise part of the trading flows from its portfolio companies such as Valour.
The company will also utilise Stillman Digital’s expertise to enhance its trading capabilities within DeFi Alpha and its global operations.
DeFi Technologies CEO Olivier Newton said: “The Acquisition is a strategic step that not only expands our capabilities in the trading sector but also diversifies our client base and revenue streams.
“We are excited to integrate Stillman Digital’s expertise into our operations and enhance our comprehensive suite of services.”
