Smart Valor, an AI-led investment firm and crypto exchange, is exploring a possible sale of all or part of its business.
The Zug, Switzerland-based company is conducting a strategic review after receiving a number of inquiries from large global exchanges, crypto platforms and traditional financial institutions (TradFi), including banks and trading platforms, the CEO told CoinDesk. and co-founder Olga Feldmeier in an interview. .
The European Union’s Crypto Asset Markets (MiCA) rules came into force on December 30, and Smart Valor could be a target for companies that do not have regulatory approval in Europe. While neither Switzerland nor Liechtenstein, where the Smart Valor retail cryptocurrency exchange is regulated, are members of the bloc, they belong to the European Economic Area (EEA) and can adopt MiCA. Liechtenstein’s law to do so will come into force on February 1.
“Our ultimate goal is to find the best strategy to increase stakeholder value while taking advantage of the resurgence of the cryptocurrency market and the benefits of improved regulation,” Feldmeier said in an email.
The firm has tasked investment banking firm Imperii Partners to explore potential opportunities, it said. The Swiss company could be an attractive acquisition for large exchanges, lending and lending platforms, wealth management companies and retail brokerages.
The advisers are holding an auction with bids due by Jan. 24, two people familiar with the matter said. Several companies are expected to bid for the regulated exchange business, with a few more completing due diligence and could also join the auction, said the people, who spoke on condition of anonymity as the matter is private.
At least one listed company is also expected to join the bidding, one person said.
Smart Valor was founded in 2017 and serves both retail clients and banks. It has three units: the licensed retail crypto exchange, a company that sells exchange technology to banks, and an AI-powered investment platform called Elann.AI.
A data room was set up before Christmas for potential suitors to conduct due diligence, according to people familiar with the matter.
The company held an oversubscribed initial public offering in 2022 and its shares were listed on the Nasdaq First North Growth Market in Stockholm, becoming one of the first publicly traded crypto companies in the region. The shares ceased trading in May 2024.
