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TCM and Trovio Merger Forms AUD200M Crypto Firm


blocktribune.com 13 December 2021 10:53, UTC
Reading time: ~3 m

Investment and advisory firm TCM & Technologies Pte Ltd (TCM) and FinTech firm Trovio have announced their merger to form a crypto firm, named Trovio Group Pte Ltd (Trovio Group).

TCM provides institutional-recognizable investment products for frontier markets. Focused exclusively on blockchain, digital assets and native crypto products, TCM has enabled a gateway to digital assets for the investment community, in a safe, secure and efficient way.

Established in 2017, Trovio has developed a platform for infinite fractionalization and digitization of physical commodities. The company is a market leader in innovative product launches, having successfully issued the Perth Mint Gold Token, the world’s first digital gold token on a public blockchain backed by government-guaranteed gold.

Led by Ellerston Capital, Sun Hung Kai Strategic Capital and Amherst Holdings, the merger was heavily oversubscribed with significant interest from institutional investors, valuing the combined group at over AUD200M. The new investment will accelerate growth in strategic technology projects currently underway, further enhance the digital fund offerings with plans to launch a number of new fund strategies in early 2022 as well as enable key hires across the technology and advisory divisions.

The combined group creates a fully-integrated, technology-centric, financial services and investment management partner capable of ramping up to provide access to the digital asset and web 3.0 ecosystem in the Asia-Pacific region. In doing so, Trovio will continue its focus on developing and supporting gateways to the new economy by delivering market-entry strategies for corporates and institutional-grade investment products for this new asset class. The merger creates immediate value for investors by bridging Trovio’s commercial technology nous, with the institutional infrastructure and distribution of TCM.

The TCM Digital Asset Income Fund, for example, is a market-neutral fund designed to extract yield through strategically participating, via smart contracts, in decentralized finance (DeFi) protocols — providing a stable and profitable fixed-income vehicle for institutional investors. The proprietary technology and team behind Trovio originates from DigiCash, the inventor of digital currencies, providing the new group with market-leading, technical expertise required for this emerging asset class in cryptography, smart contracts and institutional grade financial markets solutions.

As part of the merger, the Australian feeder fund, Digital Native Assets, will also be rebranded in alignment with the wider group as TCM Digital Asset Fund Australia (TCM DAF Australia). The realignment brings the Australian operation in line with the flagship fund, the TCM DAF, as well as the DeFi yield farming strategies, TCM DAIF and the ventures arm of the business, TCM Ventures SP. The firm will also continue to expand its deployment of its core technology to the commodities and carbon industries, enabling their partners to interact directly with the digital asset and web 3.0 ecosystems.

“The Trovio Group brings together two world class businesses – creating a new type of enterprise designed for the digital economy and Web 3.0,” said Jon Deane, CEO at Trovio Group. “One that understands the emergent trends and the technology risks and the opportunities within the ecosystem that is currently being created. A firm that can provide our clients with the ability to interact and benefit from the future growth and commercialisation of the digital economy. Our view is that all assets will eventually be transacted in a digital format, and opportunity exists for those that leverage technology solutions to interact with this ecosystem, as well as the technology’s ultimate adoption as an asset class in its own right.”

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