24 Exchange to Acquire 11B Technologies

24 Exchange Bermuda Ltd, the operator of multi-asset class trading platform 24 Exchange, announced on Tuesday that it will acquire 11B Technologies, a technology and service provider for forex spot transaction and other over-the-counter (OTC) brokers and professionals.

According to the official press release, the latest acquisition includes 11B's IP and software. In addition, the company's software development and business support team and its president will join 24 Exchange.

Wanna Know How to Reach Our Audience of Millions at Fazzaco?

​"24 Exchange intends to aggressively expand into additional products such as Crypto physical and Crypto NDFs. Our acquisition of 11B provides the ideal technological platform for that expansion. 11B has developed incredible low latency, robust and very scalable software across a range of clients and asset classes. We have been working with the talented 11B team for a long time, and are very happy to welcome them into the 24 Exchange team." commented Dmitri Galinov, 24 Exchange CEO and Founder.

As Fazzaco reported earlier, 24 Exchange has obtained a "Class T" Digital Asset Business license from the Bermuda Monetary Authority ​(BMA) to offer cryptocurrency trading.