Smart Valor, an AI-powered cryptocurrency exchange and investment company, is exploring the possibility of selling all or part of its business.
The Zug, Switzerland-based company is conducting a strategic review after receiving a number of inquiries from major global exchanges, crypto platforms and traditional financial institutions (TradFi), including banks and trading platforms. trading, CEO and co-founder Olga Feldmeier told CoinDesk in an interview. .
The European Union’s rules on markets in crypto assets (MiCA) came into effect on December 30, and Smart Valor could be a target for companies that do not have regulatory approval in Europe. Although neither Switzerland nor Liechtenstein, where the Smart Valor retail crypto exchange is regulated, are members of the bloc, they belong to the European Economic Area (EEA) and can adopt MiCA. Liechtenstein’s law to this effect comes into force on February 1.
“Our ultimate goal is to find the best strategy to increase value for stakeholders while leveraging the resurgence of the crypto market and the benefits of increased regulation,” Feldmeier said in an email.
The company has retained investment bank Imperii Partners to explore potential opportunities, it said. The Swiss company could be an attractive acquisition for large exchanges, borrowing and lending platforms, wealth management companies and retail brokerages.
Councilors are holding an auction with bids expected by Jan. 24, two people familiar with the matter said. Several companies are expected to bid for the regulated exchange business, and a few others will conduct due diligence and may also join the auction, said the sources, who spoke on condition of anonymity because the matter is private.
At least one listed company is also expected to join the bidding, a source said.
Smart Valor was founded in 2017 and serves both retail customers and banks. It includes three units: the licensed retail crypto exchange, a company that sells exchange technologies to banks, and an artificial intelligence-driven investment platform called Elann.AI.
A data room was set up before Christmas to allow potential suitors to carry out due diligence, according to close sources.
The company held an oversubscribed IPO 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 were delisted in May 2024.
