Capital.com Group has finalized the sale of its cryptocurrency buying and selling platform, Forex.com, to a gaggle of buyers represented by CXNEST Ltd.
The deal, accomplished after an 18-month transaction interval, transfers full possession of Forex.com and its subsidiaries to the brand new buyers, in accordance with a report by Finance Magnets.
Whereas monetary particulars of the deal stay undisclosed, the sale was solely finalized after receiving approvals from 28 U.S. state regulators and the Gibraltar Monetary Companies Fee.
Forex.com Expands from Gibraltar to U.S. Market Following 2020 License
Forex.com has operated below a Gibraltar license since 2020 and expanded into the U.S. market in 2022.
Nikolai Markovnik, a consultant of VP Capital Ltd.—the funding agency that beforehand owned Forex.com—described the sale as a strategic transfer.
“This transaction permits VP Capital Ltd. to concentrate on core investments whereas guaranteeing that Forex.com advantages from new management and devoted assets,” he stated.
“We're assured that CXNEST Ltd. and its buyers will drive the platform’s subsequent section of progress and innovation.”
Commenting on the acquisition, Konstantin Anisimov, a consultant of CXNEST Ltd., highlighted the agency’s progress ambitions.
“We see important potential in Forex.com and plan to put money into increasing its capabilities to fulfill the rising calls for of digital asset customers,” he stated.
Regardless of exiting Forex.com, Belarusian billionaire Viktor Prokopenya retains management of Capital.com, which continues its international growth.
In 2024, the dealer’s UAE unit dealt with a report $468.9 billion in buying and selling volumes, contributing to an total platform whole of $1.7 trillion.
Capital.com has additionally restructured its company management.
Following the resignation of Group CEO Kypros Zoumidou in November 2024, the corporate transitioned to a decentralized management mannequin, appointing 4 regional CEOs as an alternative of a single govt overseeing all operations.
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