UK crypto exchange Archax expands into US tokenised asset market with acquisition of broker-dealer

Archax Acquires FINRA-Regulated Broker-Dealer to Offer Tokenized Assets in the US

The company intends to provide tokenized real-world assets and shares in the US market, building on its current partnerships in blockchains such as Ethereum, Polygon, Hedera Hashgraph and XRP Ledger.

Author: Christian Sandor | Edited by : Parikshit Mishra Updated: Mar 31, 2025 11:41 AM UTC Published: Mar 31, 2025 11:27 AM UTC

What you need to know:

• UK-regulated digital asset exchange Archax has acquired US-based SEC and FINRA-regulated broker-dealer Globacap Private Markets and renamed it Archax Markets US.
• The company will use US permissions to serve institutional clients and plans to offer tokenized real assets (RWAs), including stocks and bonds.
• Tokenized assets are a rapidly growing area in cryptocurrency as asset managers and global banks increasingly turn to blockchain technology to move traditional financial instruments such as bonds, funds and other securities.

Archax, a UK-regulated cryptocurrency exchange and custodian specialising in tokenised assets, has acquired a US-based broker-dealer to enter the country’s burgeoning institutional market following recent positive changes in the regulatory environment.

Globacap Private Markets Inc, a broker-dealer and alternative trading system (ATS) regulated by FINRA and the Securities and Exchange Commission (SEC), was acquired by Archax and renamed Archax Markets US.

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The new initiative will form the basis of the company's presence in the U.S. and will serve institutions and professional investors in the country, two Archax executives told CoinDesk.

Asset tokenization is a rapidly growing sector in cryptocurrency as global banks, asset managers, and digital asset companies increasingly use blockchain to move traditional financial instruments to improve operational efficiency and speed up settlements.

In recent weeks, Fidelity Investments has filed to launch a tokenized money market fund and is reportedly working on a stablecoin.

Derivatives exchange CME Group has begun testing tokenization with Google Cloud, planning to launch new services next year, while the parent company of the New York Stock Exchange has teamed up with Circle to explore services based on the USDC stablecoin and the USYC tokenized fund.

Archax focuses on issuing, storing, and trading tokenized real-world assets (RWAs), including money market funds, corporate bonds, carbon credits, and uranium. For example, Archax’s recently launched tokenized treasury fund on the XRP Ledger with asset manager Abrdn has attracted $45 million in deposits, becoming one of the top 10 products by assets under management, according to rwa.xyz.

Archax CEO Graham Rodford told CoinDesk that the company had considered entering the U.S. market in recent years but stayed away due to regulatory uncertainty.

“With the new administration that seems to be more supportive of cryptocurrencies, we are also seeing an increase in interest from US clients that we obviously can’t meet from the UK, so it makes strategic sense for us to enter that market,” Rodford said.

Archax also plans to expand its offerings to include tokenized stocks and bonds in the US, building on its existing partnerships across multiple blockchains such as Ethereum, Polygon, Solana, Hedera Hashgraph, and XRP Ledger.

Company exit

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