Barry Silbert's cryptocurrency empire replenished with British custodial service Vo1t

The over-the-counter trading service Genesis Global Trading, part of the Digital Currency Group, acquired the custodial service Vo1t.Thus, the company added the last link to become a Genesis Prime prime broker.

The terms of the transaction for the acquisition of Vo1t were not disclosed.

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London Vo1t specializes in storage, lending, staking and trading services for 35 digital assets. Its clients are companies included in the FTSE stock index.

The company claims that it takes no more than 45 minutes to withdraw assets from a cold storage that uses high-tech encryption methods.

Commented by CoinDesk CEO Genesis Global TradingMichael Moreau noted that with the acquisition of Vo1t, the creation of an entire ecosystem of digital assets has been completed. Now, the institutional clients of the company under one roof are available for trading, lending and storing cryptocurrencies.

In this regard, Genesis Global Trading has proven to beon the same field with prime brokers like Tagomi and Bequant. Similar ambitions for expanding the range of services for institutional clients are also nurtured by BitGo. The last step in the implementation of this strategy was the conclusion of a partnership with one of the largest Bitcoin exchanges CoinDCX in India.

When asked about liquidity providers, Michael Moreau answered somewhat evasively:

“We trade cryptocurrencies for about $ 1 billion per month, and it’s obvious that we have enough of them.”

After integrating Vo1t, the company will focus onadding derivatives trading to the product line and expanding the number of clients among family offices, hedge and quantum funds, and asset managers. Genesis Global Trading also plans to open new offices in London and Singapore.

Recall that in the first quarter of 2020, Genesis Global Trading issued cryptocurrency loans worth $ 2 billion.