Crypto trading and lending firm VersiFi, co-led by a former Genesis executive, has acquired Ather Digital, a crypto trading technology startup, for an undisclosed sum. This acquisition will allow VersiFi to integrate Ather’s trading technology, including direct market access and algorithmic trading, into its platform and expand into the UAE.

The all-stock deal makes Manifold Capital Partners and other Ather investors minority shareholders in VersiFi. VersiFi, which raised $10 million in Series A funding last November, plans to support institutional investors and enhance its trading capabilities. The acquisition will also help VersiFi establish a presence in Abu Dhabi, leveraging Ather's local office and team.

VersiFi's co-CEO Sameer Shalaby highlighted the increased market activities and investor focus on crypto, spurred by spot Bitcoin ETF approvals. He also noted that Ather’s team, including its founder Sidharth Sankhe, has joined VersiFi, which plans to expand further in Abu Dhabi.

VersiFi is not currently seeking additional capital and intends to operate Ather as an integral part of the company without immediate plans for raising outside funding. The deal was advised by several law firms without the use of an outside banker.