Amberdata, a leading blockchain and crypto asset data firm, has not relented in its continuous efforts to set the pace for research application and institutional digital asset data.
In an announcement on October 25, Amberdata acquires Genesis Volatility (GVol), a crypto options analytics platform. Founded in 2020, the crypto option provider has a passion for options, data science, and cryptocurrency. Similarly, it provides an advanced range of analytical tools for crypto options traders.
Interestingly, the acquisition will enable Amberdata to broaden its Decentralized Finance (DeFi) and Centralized Finance (CeFi) products. Also, the purchase will offer support to protocols such as Frikton, Ribbon, and Lyra. Although the financial terms of the purchase are unknown, the firm’s institutional clients Citigroup, Fidelity, and Nasdaq (NDAQ) are solidly behind it.
Consequently, GVol’s DeFi options data and analytics will boost Amberdata’s plans to provide deep insights into DeFi for its institutional clients.
Furthermore, the deal will also enhance the GVol analytics interface with Amberdata’s DeFi, on-chain, and market data. Notably, GVol’s broad experience and deep knowledge of crypto options have made Amberdata buy them over. Together both platforms will accelerate strategic products and extend their market leadership in digital asset data.
In May, the crypto-asset data firm raised $30 million in a Series B financing round. In return, the round brought the firm’s valuation to $330 million. Citigroup and NASDAQ took part in the round. The funds were channeled to designing new innovative products centered on broader DeFi coverage and depth.
Crypto firms expand positions via mergers and acquisition
Although there has been a recent crash in market price that saw many firms suffer a liquidity crisis. Several other healthy firms seized the opportunity to consolidate their products and expand their market positions. These firms achieved this via mergers and acquisitions.
The largest Spanish crypto exchange Bit2me in July acquired the majority stake in Peru-based crypto exchange Fluyez. The exchange is not relenting as it hopes to expand its footprints across all of Latin America.
Also, the US payment service platform PayStand has acquired Yaydoo, the procurement platform. Although both companies will operate independently, there would be cross-selling of each other’s products in different markets.