Archax to Buy Spanish Broker King & Shaxson Capital Markets to Expand in Europe
Summary
Archax, a U.K.-regulated crypto exchange, is acquiring Spanish broker King & Shaxson Capital Markets (KSCM) to expand in the EU as MiCA regulations take effect. The deal requires regulatory approval in Spain. KSCM, founded in Madrid in 2019, will become a wholly owned subsidiary of Archax. This acquisition allows Archax to extend its brokerage, multilateral trading facility, and custody services into Europe and add crypto derivatives to its offerings. MiCA regulations will apply from December 30, with stablecoin provisions already in effect since June. Archax aims to enhance its EU regulatory footprint post-Brexit.
