VP Capital Exits Belarus, Sells All Crypto Exchange Assets
VP Capital Sells Cryptocurrency Exchange Currency.com to Cyprus-Based Investors
VP Capital Sells Cryptocurrency Exchange Currency.com to Cyprus-Based Investors
Negotiations for the sale of Currency.com have been ongoing since early 2023. The deal took 18 months to complete due to the necessity of obtaining regulatory approvals from 28 U.S. states and Gibraltar. The transaction amount has not been disclosed.
«We see significant potential in developing the platform and plan to invest in a major expansion of its capabilities and team. The change in ownership will not affect the cryptocurrency exchange’s operations. Currency.com users will continue to enjoy uninterrupted access to the platform,» commented Konstantin Anisimov, a representative of CXNEST Ltd.
CXNEST Ltd has acquired full ownership and control over Currency.com. VP Capital, which was the founder of Currency.com, sold its entire stake in the cryptocurrency exchange and no longer has any connection to it. VP Capital has also withdrawn from the founding members of the Cypriot investment company McConville.
The conclusion of the Currency.com sale completed VP Capital’s exit from cryptocurrency projects. In 2022, the company «Dzengi Com» was spun off from the Currency.com structure. With the sale of «Dzengi Com» to investors from the UAE, VP Capital no longer has any business assets in Belarus. According to the Unified State Register, the Belarusian company LLC «VP Capital» was removed from the register on July 25, 2024.
The company confirmed that «Dzengi Com» was sold to INNOVATIVE BUSINESS COMPANY HOLDINGS (UAE).
«The acquisition of the cryptocurrency exchange is a strategic move that reflects our confidence in the potential of the cryptocurrency market. We intend to invest in the development of the platform and improve the quality of services for users,» commented Ali Ahmed Hussein Ali Al-Ali, director of the investment company.