Apex Group Acquires Tokeny: A Major Step in Fintech Innovation
The Apex Group, a leading global financial services provider, has announced its acquisition of the Fintech startup Tokeny, which is based in Luxembourg. This strategic move allows Apex Group to take full control of Tokeny over the next three years, following a previous investment and partnership established in December 2023.
Details of the Acquisition
According to a recent statement from the companies, “The transaction will see Apex Group gain 100% control over Tokeny within three years.” This acquisition is set to integrate Tokeny’s expertise and technology into the Apex Group, bolstering its offerings in the fintech space. However, Apex Group declined to disclose the total valuation of the deal or the number of shares exchanged during this period. A spokesperson for Apex indicated that “there is no regulatory approval” needed to finalize the agreement.
Apex Group’s Position in the Market
Apex Group specializes in providing administrative, compliance, and business services to asset managers and family offices worldwide. Managing approximately $3.1 billion (€2.73 billion) in assets, the company employs around 13,000 professionals globally. In Luxembourg, Apex Group stands out as one of the largest companies in its industry, with its subsidiary Apex Fund Services reporting a net revenue of €55.6 million in 2023, up from €44.9 million the previous year.
Growth and Employment Statistics
Located in Munsbach, Apex reported a total workforce of 403 employees in 2023, a significant increase from 304 in 2022. The firm’s growth trajectory reflects the strong demand for its services in the financial sector, highlighted by the statistics office, Statec, employing 430 staff members at the beginning of 2024.
Tokeny’s Innovative Solutions
Tokeny specializes in tokenization platforms, utilizing blockchain technology to issue and manage digital tokens for companies, investment funds, and both physical and virtual assets. Advocates argue that tokenized assets can be exchanged more efficiently and at lower costs compared to traditional securities. With over $32 billion in assets tokenized to date, Tokeny is at the forefront of establishing the ERC-3643 standard for compliant tokenization.
Achievements of Tokeny
Founded in 2017 and situated at the Luxembourg House of Finnish Technology, Tokeny achieved a net revenue of €1.2 million in 2023, an increase from €766,300 in 2022. The startup employs around 25 professionals and has previously received support from American venture capital firms and the Euronext stock market operator.
The Future of Asset Tokenization
Peter Hughes, founder and CEO of Apex Group, emphasized the transformative potential of tokenization, stating, “Tokenization is a fundamental change in how assets will be managed, distributed, and made accessible.” He highlighted that the strengthened partnership with Tokeny is crucial for Apex’s vision as a leading infrastructure provider in the digital finance landscape. Meanwhile, Luc Falempin, CEO of Tokeny, expressed that the collaboration will enable faster service delivery to global institutional clients.
This acquisition marks a significant milestone in the fintech landscape, fostering innovation and growth in the rapidly evolving field of asset tokenization.