PolySign Acquires Crypto Fund Administrator MG Stover04.18.2022
Group of institutional and venture capital Series C investors empower PolySign in becoming first provider of vertically-integrated custody, trading and fund administration services to institutional investors for cryptocurrency and digital assets
MG Stover maintains more than $40 billion in digital assets under administration for institutional investors and asset managers
Today, PolySign announced the acquisition of @MGStoverCo, creating the world’s largest vertically integrated full-service digital asset fund administrator, and our Series C round of funding led by @Cowen_Inc, Soros Fund Management, Brevan Howard and @GSR_io. Link to article:
— PolySign (@PolySignInc) April 13, 2022
PolySign Inc., in its latest development to improve the quality and breadth of digital asset infrastructure available to institutional investors, today announced that it has entered into an agreement to acquire MG Stover for a mix of cash and PolySign stock. MG Stover is an industry leader in digital fund administration with an impressive client base including more than $40 billion in digital assets under administration, the world’s largest by a wide margin.
The acquisition of MG Stover’s best-in-class fund service capabilities will enable PolySign to deliver a comprehensive, vertically integrated custody, trading and administration offering to institutional investors for cryptocurrency and digital assets. This near-term development accelerates PolySign’s product development plan and paves the way for future service enhancements focused on institutional investors and asset managers.
Financial Stability Oversight Council identified gaps in the US regulation of cryptoassets.
Ethereum-based products witnessed one of their most challenging months in September.
Year-to-date net inflows reach $712m.
BOE's Sir Jon Cunliffe said regulators should proactively extend existing regimes to crypto.
Brett Harrison had joined the crypto exchange in May 2021 from Citadel Securities.