Qredo Acquires Xena Exchange's Team and Technology, Forms Unit 'Qredo Markets'

Qredo, a decentralised digital asset management infrastructure, announced the acquisition of the team and technology behind Xena Exchange, a self-custodial trading derivatives platform built by former professionals from JPMorgan and Deutsche Bank.

The newly formed unit, Qredo Markets, will pair Qredo's decentralized custody infrastructure with Xena Exchange's technology to create institutional-grade tools for accessing digital asset liquidity.

Anthony Foy, Qredo CEO commented: "As centralised crypto firms freeze withdrawals amid market turbulence, self-custody has never been more critical. The acquisition of Xena Exchange represents a significant milestone on our journey towards creating the next generation of self-custodial wallets. Our combined tech stack will enable institutions to access liquidity in a way that is true to the trustless spirit of blockchain — without ever needing to give up control over funds."

Anton Kravchenko, Qredo Markets Director said: "At Xena Exchange we believed that exchanges should not keep the clients' funds, so we built a non-custodial trading environment with high-speed liquidity for institutional and algorithmic traders. As Qredo Markets, we will be able to deliver trading solutions with the unmatched security of Qredo as a decentralised custodian."

Alexey Semichastnov, Qredo Markets Product Director said: "Dozens of software engineers have worked on our (Xena Exchange's) derivatives matching engine for five years. The result is something that simply cannot be bought on the open market, and thus gives Qredo an immense competitive advantage. We are confident that our technology has found the right home, and are delighted to join a stellar team that can take it to the next level."