Blockchain.com Acquires AI Firm to Expand Institutional Offering

Cryptocurrency exchange and wallet provider Blockchain.com has acquired Artificial Intelligence Exchange (AiX).

• Terms have not been disclosed for the acquisition of the London-based developer of an artificial intelligence (AI) negotiating and matching engine for over-the-counter (OTC) trading.
• The acquisition will help drive the rapid growth of Blockchain.com’s institutional offering, according to a blog post by Blockchain.com CEO Peter Smith on Wednesday.
• AiX’s team boasts employees with experience at firms such as JPMorgan and Goldman Sachs, Smith added.
• Blockchain.com raised $300 million in Series C funding led by DST Global, Lightspeed Venture Partners and VY Capital in March, which valued the company at $5.2 billion.
• That came only a month after a funding round led by Google Ventures valued the company at $3 billion.
• These funding rounds were followed in April by a $100 million investment by Baillie Gifford, a 110-year old asset management firm with $445.3 billion in assets under management (AUM).

See also: Coinbase to Acquire Institutional Data Analytics Platform Skew