DeFi Technologies acquires Swiss Protos Asset Management

Protos, through their various funds and investment structures, gives investors exposure to professionally managed portfolios of cryptocurrency assets and DeFi networks. The founders have 18 combined years of investing in Bitcoin and cryptocurrencies. Since 2017 Protos has helped over 200 investors gain exposure to the emerging digital asset class.  Protos Quant accounts aim to systematically reduce risk while growing the size of its clients portfolios relative to their BTC & ETH benchmarks. The company is based in Baar.

Wouter Witvoet, DeFi Technologies Chief Executive Officer stated, "Since 2017, the team at Protos have created excellent infrastructure to give institutional and individual investors access to a diversified DeFi portfolio. They were also pioneers in allowing investors to access their quantitative investment strategies via the PRTS security token. It is these kinds of developments that I am excited to bring to the DeFi Technologies family and get to real scale using the platform we have created."

Thomas Kineshanko, co-founder of Protos stated, "We believe that the combined strengths of DeFi Technologies and Protos will allow us to offer a portfolio of the highest quality DeFi products under one roof. Our team at Protos is deeply technical and passionate about DeFi and includes strong DeFi insights, quant trading and structured products capabilities. Through Protos we've brought several successful products to market early including the first tokenized hedge fund and one of the first and most successful DeFi yield hedge funds. This acquisition allows us to bring our technical experience and passion for DeFi to more users by leveraging the reach and world-class executive leadership that DeFi Technologies brings to the table."

The LOI contemplates that DeFi Technologies and Protos will promptly negotiate and enter into a definitive agreement, together with such other documents that may be required in order to formalize and execute the terms of the Acquisition as outlined in the LOI.

Through the Protos Acquisition, DeFi Technologies will have ownership of the operating business, all intellectual property, and brand of Protos and will assume the core operating team of Protos. The completion of the Protos Acquisition is subject to the receipt of all necessary approvals, including negotiation and execution of a Definitive Agreement, shareholder and board approval of each of Protos and DeFi Technologies, as necessary, completion of due diligence.

(Press release / SK)