Koine, a provider of cryptocurrency custody and settlement services, today announced the acquisition of a yet-to-launch startup called Recruitable Ltd, aka hireabl, which the company describes as a fintech platform for automated client on-boarding.
As a result of takeover, the founders of hireabl, David Grocott and Matt Dangerfield, will retain their current roles under the new parent entity. Additionally, hireabl CEO Jason Mochine will take on the role of Head of Sales at Koine.
Set to launch next month, Koine provides institutional clients with custody and real-time settlement services for both digital and fiat assets. The company says it has ready plans to make additional acquisitions of early-stage startups in order to provide more integrated end-to-end services that its clients are demanding.
The addition of hireabl will provide an automated KYC/AML/CTF platform as part of the Koine architecture to ensures an efficient and scalable client on-boarding.
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Koine’s chairman and chief executive Hugh Hughes was previously the CEO of Societe Generale Securities for over ten years. He also co-founded Fixnetix, a financial technology company, which was sold in 2016 to US tech vendor CSC for over $100 million.
In the statement, Hughes said Koine has recently completed its second financing round, and the company is now poised for launch and growth.
Commenting on the deal, he added: “With this acquisition of talent and technology, we are investing in the client on-boarding experience, for excellence of our customer service and for rapid expansion in our client base. We are delighted that the hireabl team and technology are now within the Koine stable – our platform positions Koine to become a major institutional custodian of digital assets”.
Jason Mochine added: “We are convinced of the business and technical synergies of integrating our scalable client on-boarding capability into the Koine global offering. There is massive client interest in the provision of institutional custody and settlement of digital assets. Clients and prospects are impressed at gaining the ability to increase their capital efficiency and reduce settlement risk through real-time interoperability with multiple global trading venues on the single Koine custody system.”