- February 14, 2024
- Posted by: AliensFaith
- Category: OBJECTIVE PRESS
Fintech firm Nukkleus plans to acquire Mercury Global, a company in the international money transfer sector. The deal entails Nukkleus acquiring Mercury Global through a transaction involving a combination of cash and common stock. According to the press release, the initial payment involves equity, followed by additional payouts tied to achieving specific growth targets.
Nukkleus expects to gain a significant regulatory edge in the UK thanks to Mercury Global’s established presence in the region. Besides that, the company aims to benefit from Mercury Global’s access to South Africa, a gateway to the SADC market. The UK’s regulators must approve the transaction before the deal is concluded.
Enhancing Cross-Border Payments
Emil Assentato, the CEO of Nukkleus, mentioned: “This acquisition is a testament to our commitment to enhancing our cross-border payment capabilities. Mercury Global’s strong regulatory standing in the UK, its strategic presence in South Africa as a gateway to the SADC market, and its robust banking partnerships present an invaluable addition to Nukkleus.”
Thanks @MSN for the kind words! https://t.co/8LK58KDrwQ“As Nukkleus navigates through these transformative times, its strategic acquisitions and partnerships underscore a clear vision: to be at the forefront of the fintech revolution. The acquisition of Mercury Global marks a… pic.twitter.com/MLxKFzYw1W
— Nukkleus Inc. (@NukkleusInc) February 14, 2024
Nukkleus Expands Services through Partnerships
Recently, Nukkleus disclosed a memorandum of understanding with Jacobi Asset Management to increase its stake in Jacobi Asset Management to 20%. This move aims to strengthen Nukkleus’ position in the regulated crypto market. According to the Nukkleus, this acquisition aligns with its vision of transforming the global financial landscape through innovative tools like blockchain and digital assets.
The company aims to access Europe’s only regulated Bitcoin spot ETF by securing a larger stake in Jacobi. The MOU outlines a 90-day negotiation period for Nukkleus to acquire an additional 10% stake in Jacobi, with an option to buy another 6% through One Hoxton Holding Ltd.
Last year, Jacobi Asset Management launched Europe’s first spot Bitcoin exchange-traded fund. on Euronext Amsterdam. Jacobi’s CEO, Martin Bednall, lauded the development, citing increased accessibility to digital assets within a regulated framework.
This article was written by Jared Kirui at http://www.financemagnates.com.
