On January 27, Apifiny, a global digital asset trading network based in New York, announced plans to go public by merging with a special purpose acquisition company, Abri SPAC I. The transaction deal is expected to close in Q3 of 2022, and Apifiny would become a publicly traded company on the Nasdaq stock market. The transaction is set to give the combined company a valuation of $530 million, which includes up to $57 million in cash held in Abri’s trust account.

The Boards of both Abri and Apifiny have unanimously approved the proposed transaction.

Apifiny, which aims to develop a truly global digital asset trading network, considers that going public is just the start of the journey. The firm sees going public as a means of accelerating growth, becoming fully regulated and acquiring clients more rapidly.

According to the announcement, once the merger deal is done, Apifiny would be supported by a strong board within financial advisory, the public service and technology sectors, including Tim Murphy, the former Deputy Director of the Federal Bureau of Investigation (FBI); Samuel Shen, the CEO of Vnet Group; Mads Jensen (Board Nominee), the Associate Professor in Finance at Copenhagen Business School and the Founding Partner at Jentzen & Partner; Denis Duncan (Board Nominee), the EVP and CFO at CapStar Financial Holdings, Inc; and Laurence Charney, the former partner of Ernst & Young.

Haohan Xu, the Founder and CEO at Apifiny, commented: “Today’s merger is a significant milestone toward creating value for our shareholders and one that will help accelerate our growth, as well as the growth of digital asset markets. We are proud to be joining forces with Abri, a team that brings years of capital markets expertise and experience operating and running both public and private companies. Together, we intend to create one unified global market for digital assets.”

Meanwhile, Jeffrey Tirman, the Chairman and CEO of Abri, added: "We are very pleased to support Apifiny’s transition to the public markets where our combined impact can accelerate value for our shareholders. Our team shares Apifiny’s vision that together we can meaningfully take steps to shape digital asset trading and the future of digital asset markets.”

How Apifiny Is Creating Products for Financial Markets

The announcement by Apifiny occurs at a time when the company is continuing to work on building a unified, global digital asset trading network. The company believes that all traders and all institutions should have access to one, a global cryptocurrency trading marketplace that is fully compliant and highly cost-effective. However, several global traders with idle digital assets do not have a secure regulated custody solution.

In April last year, Apifiny obtained a US broker-dealer license from FINRA to enable the firm to make private investor placements on behalf of its clients and offer its customers additional financial products. In June 2020, the firm launched Roxe, a payment clearing and settlement network, to solve the value transfer problem by efficiently connecting the world’s systems, markets, scattered assets and banks across the globe to free asset transfer from the limitations of financial institutions., Now, both Apifiny and Roxe are separate entities. To date, Apifiny has partnered with more than 20 of the leading 100 global digital asset exchanges, including Blockchain.com, OKCoin, Kucoin, OKEx, Huobi Global, among others.

On January 27, Apifiny, a global digital asset trading network based in New York, announced plans to go public by merging with a special purpose acquisition company, Abri SPAC I. The transaction deal is expected to close in Q3 of 2022, and Apifiny would become a publicly traded company on the Nasdaq stock market. The transaction is set to give the combined company a valuation of $530 million, which includes up to $57 million in cash held in Abri’s trust account.

The Boards of both Abri and Apifiny have unanimously approved the proposed transaction.

Apifiny, which aims to develop a truly global digital asset trading network, considers that going public is just the start of the journey. The firm sees going public as a means of accelerating growth, becoming fully regulated and acquiring clients more rapidly.

According to the announcement, once the merger deal is done, Apifiny would be supported by a strong board within financial advisory, the public service and technology sectors, including Tim Murphy, the former Deputy Director of the Federal Bureau of Investigation (FBI); Samuel Shen, the CEO of Vnet Group; Mads Jensen (Board Nominee), the Associate Professor in Finance at Copenhagen Business School and the Founding Partner at Jentzen & Partner; Denis Duncan (Board Nominee), the EVP and CFO at CapStar Financial Holdings, Inc; and Laurence Charney, the former partner of Ernst & Young.

Haohan Xu, the Founder and CEO at Apifiny, commented: “Today’s merger is a significant milestone toward creating value for our shareholders and one that will help accelerate our growth, as well as the growth of digital asset markets. We are proud to be joining forces with Abri, a team that brings years of capital markets expertise and experience operating and running both public and private companies. Together, we intend to create one unified global market for digital assets.”

Meanwhile, Jeffrey Tirman, the Chairman and CEO of Abri, added: "We are very pleased to support Apifiny’s transition to the public markets where our combined impact can accelerate value for our shareholders. Our team shares Apifiny’s vision that together we can meaningfully take steps to shape digital asset trading and the future of digital asset markets.”

How Apifiny Is Creating Products for Financial Markets

The announcement by Apifiny occurs at a time when the company is continuing to work on building a unified, global digital asset trading network. The company believes that all traders and all institutions should have access to one, a global cryptocurrency trading marketplace that is fully compliant and highly cost-effective. However, several global traders with idle digital assets do not have a secure regulated custody solution.

In April last year, Apifiny obtained a US broker-dealer license from FINRA to enable the firm to make private investor placements on behalf of its clients and offer its customers additional financial products. In June 2020, the firm launched Roxe, a payment clearing and settlement network, to solve the value transfer problem by efficiently connecting the world’s systems, markets, scattered assets and banks across the globe to free asset transfer from the limitations of financial institutions., Now, both Apifiny and Roxe are separate entities. To date, Apifiny has partnered with more than 20 of the leading 100 global digital asset exchanges, including Blockchain.com, OKCoin, Kucoin, OKEx, Huobi Global, among others.