South African Crypto Exchanges Revix and Bitfund Merge With Austrian Digital Asset Platform

[Bitcoin]

South African Crypto Exchanges Revix and Bitfund Merge With Austrian Digital Asset Platform

Two South African crypto platforms and an Austria-based digital asset platform have joined forces to launch a new alternative investment platform called Altify. The goal of the new outfit is to enable South African investors, particularly the younger ones, to harness the power of alternative investments.

Alternative Investment Opportunities a Preserve for the Wealthy

Two South African crypto exchange platforms, Revix and Bitfund, have merged with an Austrian digital asset platform to create a new alternative investment platform called Altify. According to a joint statement, Sean Sanders, the founder of Revix, has been named the CEO of the new entity, which is headquartered in London.

In their Nov. 30 statement, the three companies said that Altify aims to provide alternative investment opportunities, that are usually reserved for large institutions and the ultra-wealthy, to ordinary people. These alternative investment opportunities include private credit (private debt), venture capital, real estate, crypto assets, and collectibles.

Merger Deal Backed by Shareholders

According to Sanders, the new entity not only cements an already established position in the South African market but also enhances its investment reach. The new CEO added:

“Ultimately, our goal is to enable South African investors the opportunity to harness the power of alternative investment, positioning ourselves as the go-to alternative investment platform across South Africa and the bigger EMEA region.”

Sanders also stated that the other goal of the new entity is to change the long-held perception that only individuals in their 60s ought to invest in alternative assets.

Meanwhile, the statement revealed that the merger transaction had the support of the respective companies' shareholders. These include Sabvest, CVVC, Founders Factory, Emurgo, High-Tech Gründerfonds, and Calm/Storm Ventures. The merger also won the backing of angel investors Frank Westermann and Johann "Hansi" Hansmann.

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Source: South African Crypto Exchanges Revix and Bitfund Merge With Austrian Digital Asset Platform