Home » Press Release » New investor group acquires Blocktrade to propel strategic growth

New investor group acquires Blocktrade to propel strategic growth

Jun. 24, 2024

Luxembourg, Luxembourg, June 24th, 2024, Chainwire

Blocktrade is excited to announce that it has been acquired by a group of seasoned fintech investors from Estonia. This acquisition marks a significant milestone for all parties and sets the stage for an exciting future of innovation and growth.

Under the new leadership, Blocktrade will undergo a strategic pivot, evolving into an easy-to-use modern financial hub catering to both B2B and B2C customers. This transformation aligns with Blocktrade’s commitment to delivering long-term value and services to its clients, shareholders and partners.

The expertise and resources from the new investor group will enable Blocktrade to enhance and expand its offerings, providing comprehensive financial solutions and fostering a thriving environment for businesses and consumers alike.

Christian Niedermüller, the former CEO of Blocktrade, has expressed enthusiasm about the acquisition: “We developed Blocktrade from a pretty average platform into a top-notch market standard platform with lots of special features in the last 2.5 years which has led to significant user growth. Security, regulatory compliance, and the convenience of navigating the platform improved significantly. The ownership change now is another chance for Blocktrade, its investors, and customers to develop Blocktrade even further. Expertise and resources from the new leadership will undoubtedly enhance our platform, and I am confident this acquisition will lead to even greater innovation and an improved user experience for all our users.”

“We are excited to be part of the journey and take the lead on guiding Blocktrade through the next expansion phase,” said Fred Kaasik, the new CEO of Blocktrade. “By leveraging our expertise in traditional finance, capital markets, and compliance, we will execute our vision to shape the company into a modern financial institution. We’ll be implementing a two-stage strategy with immediate effect. The first part will introduce more trading pairs, reduce fees, improve onboarding efficiency, and prepare for the upcoming MiCA regulations. Our second stage will focus on integrating existing and upcoming services with traditional finance, including crypto payments and investing products to deliver tangible user value. Crypto payment services and POS devices, along with the Blocktrade credit card, will be a big part of what the team will focus on in 2024.”

Blocktrade’s existing customers can expect a seamless transition, with continued access to their current services and the addition of new, enhanced features in the near future. The teams are dedicated to ensuring that this transition is smooth and beneficial for all stakeholders.

We extend our heartfelt gratitude to our clients, partners, and employees for their continued support and trust. We look forward to embarking on this exciting journey together as we build a brighter financial future.

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About Fred Kaasik and the Investor Group: Fred Kaasik has over 20 years of experience in the financial industry and related consumer services. He leads an accomplished team and investor group renowned for devising and implementing successful strategies across both traditional and emerging financial ecosystems, cryptocurrency mining, and regulatory compliance.

About Blocktrade: Blocktrade is a state-of-the-art digital asset platform that enables the seamless buying and selling of different cryptocurrencies. The platform offers a wide range of assets, a user-friendly interface, multiple payment options, saving plans, and exceptional customer support.

Established in 2018, Blocktrade has emerged as a leading player in the digital asset industry due to its unyielding commitment to security and regulatory compliance. The platform is fully transparent, with over 5,000 class-B shareholders, and regulated to EU standards. It is registered as a VASP with the Estonian, Italian, and Slovenian regulators and operates in full compliance with EU Anti-Money Laundering Directives and MiCA regulation.

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