Clear Junction, a cross-border payments solutions firm, has recently acquired Altalix, a FinTech company that specializes in providing fiat-to-crypto gateway solutions.
Altalix holds the distinction of being one of the first UK businesses to become registered with the Financial Conduct Authority (FCA) as a cryptoassets firm, a recognition achieved through the FCA Regulatory Sandbox programme and with the support of the FCA Innovation Hub.
Previously, Altalix had a client relationship with Clear Junction, and now the two companies are looking to collaborate further in order to drive shared growth in their respective fields.
This strategic acquisition marks a significant milestone for Clear Junction as it seeks to offer clients a comprehensive suite of tools for managing their payment and treasury needs on a global scale.
The growth of the cryptocurrency market, along with the declaration by HM Revenue & Customs that digital assets such as cryptoassets are taxable, necessitates the presence of FinTech and payments companies capable of meeting these evolving needs.
“As part of the acquisition process, Clear Junction underwent a rigorous change in control process with the FCA,” said Dima Kats, CEO of Clear Junction. “This acquisition not only gives us a competitive edge with the unique combination of cryptoasset registration and EMI license issued by the FCA, but it also holds significance for the future development of the finance industry. We closely follow regulatory developments in the UK related to digital assets, and expanding our expertise and product offerings aligns with our vision to provide correspondent account services to regulated institutions.”
Altalix will continue to operate as a separate company, but will be rebranded as Clear Junction Digital Ltd. Its business strategy will shift to exclusively serving regulated institutions, in line with Clear Junction’s market focus.
Kats added, “Compliance has always been a cornerstone of our business, and we see this acquisition as an investment in our capabilities and the stability of our service to clients. We will spend time in Q4 integrating the new business, updating policies and processes, and developing pilot products for launch.”
This acquisition comes shortly after the launch of CJClique, Clear Junction’s new platform for connecting and collaborating with digital asset clients. It also follows the recent announcement of Clear Junction’s ISO 27001 certification, which is the highest global standard for information security.
Overall, this acquisition positions Clear Junction as a leader in the industry, equipped with the necessary tools and expertise to meet the evolving needs of its clients in the fast-growing digital assets market.