Cross-border payments solutions firm Clear Junction has acquired Altalix, a FinTech company providing fiat-to-crypto gateway solutions.

Altalix was one of the first UK businesses to become registered with the FCA as a cryptoassets firm, achieved as part of the FCA Regulatory Sandbox programme and with the backing of the FCA Innovation Hub. 

Altalix previously had a client relationship with the team at Altalix. They are now looking to collaborate for the next phase of shared growth.

Clear Junction says the strategic acquisition represents a significant milestone as it looks to provide clients with a complete suite of tools to manage their payment and treasury needs globally.

In June 2023, the Law Commission published its final report to the UK government which advised that the common law system in England and Wales is well-placed to provide a coherent and globally relevant regime for existing and emerging types of digital assets. 

In addition, given HMRC’s declaration that digital assets such as cryptoassets are taxable since they are not considered currency, money or gambling, the growth of the market will require FinTech and payments companies capable of servicing its needs.

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“It has been a pleasure to work with the management team at Altalix, and the wider team while they were a Clear Junction client. We are excited to take this business forward,” said Dima Kats, CEO of Clear Junction.

“As part of the acquisition process, Clear Junction was required to undertake a rigorous change in control process with the FCA. Not only have we gained a true competitive edge with the unique pairing of cryptoasset registration and EMI licence issued by the FCA, but the acquisition also holds significance as we look to the future of finance and how the industry will develop. 

“We closely follow the regulatory developments related to digital assets in the UK, and so it is imperative for us to expand our expertise and product offerings in line with the market trends and our vision to provide correspondent account services to regulated institutions.”

Altalix will remain a separate company and be rebranded to Clear Junction Digital Ltd. Its business strategy, however, will shift from serving retail clients to exclusively providing services for regulated institutions in line with Clear Junction’s market focus.

Kats continued: “Clear Junction has always seen compliance as a cornerstone to our business, and we are confident that this acquisition is an investment into our capabilities and stability of service to our clients with a solid infrastructure for offering products that fit the purpose of the future of digital assets. We will spend some time in Q4 bedding in the new business, updating policies and processes, and developing pilot products for launch.”

The news of the acquisition follows the launch of CJClique in June – Clear Junction’s new platform enabling its digital asset clients to connect and collaborate – and comes just days after it announced its ISO 27001 certification, the highest global standard that businesses can achieve for information security.

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