FINVASIA Group announced that it has acquired ActTrader Technologies (formerly ActForex) , a company that is building financial technology products for over 20 years.
“ActTrader was among the world’s first “Fintech” companies, well before the buzzword “FinTech” got glamorized. From building the first ever online retail forex trading application back in 2000 to launching the first ever WAP based mobile trading app in 2004, they’ve grown to build disruptive multi-asset financial technology products that have been trusted by millions of traders worldwide,” the company said in its release.
Founded in year 2000 in United States of America and has served almost over 2 million retail traders in over 100 countries, ActTrader has processed over $400 trillion in transaction volume and has acted as the core technology provider to some of the largest financial institutions in the world.
FINVASIA Group is a multi-disciplinary, multinational organization that owns multiple brands in the financial services, fintech, blockchain and technology sectors. Finvasia, along with its subsidiaries and sister concerns, is registered with a gamut of regulatory bodies across the world in various capacities. Recently, Finvasia acquired Fxview, a Cyprus-based financial services company, to expand its presence in the European market.
“FINVASIA believes in the democratization of the financial system and believes that technology can lead this change,” said Sarvjeet Singh, Managing Director of FINVASIA Group. “Uniting our companies will allow us to drive new innovations and create fintech solutions that not only address today’s requirements but are also flexible enough to meet tomorrow’s technological advances.”
Together, they envisage to build the next generation of the blockchain and AI based trading applications, a unique social trading platform, robust risk management and liquidity management solutions, variety of plug-ins and business intelligence tools that will challenge industry standards and extend the frontier of Fintech industry. This deal brings together two major Fintech players under one umbrella, the statement said.
Effective immediately, ActTrader will become a subsidiary under the FINVASIA Group, with Ilya Sorokin continuing as the CEO and all current management and associates remaining in place.
Founder and CEO of ActTrader Technologies, Ilya Sorokin stated, ” This acquisition broadens our footprint and strengthens our ability to serve new clients, well and long into the future. As we continue to grow and expand, the ability to provide our clients with innovative next-gen financial technology products is a significant step in our journey.”
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