İş Yatırım has decided to acquire 100 percent of the capital of Futurance Kripto Varlık Alım Satım Platformu A.Ş. for $3.65 million, aiming to strengthen its presence in the crypto asset market.
İş Yatırım Menkul Değerler A.Ş. (ISMEN) announced in a disclosure to Turkey’s Public Disclosure Platform (KAP) that its Board of Directors had decided to acquire all shares of Futurance, which operates in Türkiye’s crypto asset market. The acquisition, subject to the necessary adjustments during the process, is planned to be carried out for $3,650,000. The company also stated that it had authorized its general management to complete the legal and official steps of the acquisition process.
Following the entry into force of Türkiye’s Crypto Asset Law and the clarification of the Capital Markets Board’s (SPK) supervisory processes, traditional brokerage firms and banking subsidiaries have accelerated their investments in the digital asset market. İş Yatırım’s full acquisition of Futurance, which also owns the Fexobit brand, is seen as one of the moves set to increase institutional finance players’ share and competitiveness in the crypto sector.
