CrossTower BEQUANT Acquisition FAQs

Learn everything you need to know about CrossTower’s upcoming acquisition of BEQUANT.

What was announced and what does it mean?

On November 28, 2022, CrossTower announced that it has reached an agreement to acquire BEQUANT, a leading prime brokerage and digital asset exchange, for an undisclosed amount. This means that if the transaction closes, BEQUANT will be privately owned by CrossTower.

What is CrossTower and BEQUANT business profile?

CrossTower, ranked as a top 1% exchange globally by CryptoCompare, is a Web 3.0, crypto and NFT marketplace offering a variety of financial and NFT products in the U.S., India, Bermuda and globally. BEQUANT offers a one-stop solution for professional investors and institutions with products including prime brokerage, exchange, custody, liquidity and direct market access.

Teams at CrossTower and BEQUANT comprised of experts from institutional, retail and digital financial services with experience in banking, derivatives, electronic trading and prime brokerage.

Why is CrossTower acquiring BEQUANT?

BEQUANT, with its institutional trading and prime brokerage platform, will enable CrossTower to expand its suite of professional grade products for a global market, covering the US, Bermuda, Europe, LatAm and Asia. Through this acquisition, CrossTower will add over 600 professional exchange clients, generating over USD 400 billions of yearly turnover with more than a dozen exchanges connected its platform. The combination of BEQUANT and CrossTower will allow us to have a truly global reach.

Is CrossTower committed to BEQUANT’s vision?

Yes. Both CrossTower and BEQUANT provide solutions that create market efficiencies by reducing friction while delivering exceptional client services. Leadership team at combine company is dedicated to security, trust, integrity required to build the future of finance.

When will the transaction be completed? What are the next steps?

The transaction, which is expected to be completed in the first quarter of the 2023 calendar year, is subject to approval by BEQUANT stockholders and regulatory entities.

Is this good for BEQUANT and its customers?

Yes, this is good news. BEQUANT’s mission and vision remain unchanged, and BEQUANT will continue its commitments to its customers and passion for driving innovation in the digital assets space.

What does this mean for BEQUANT and CrossTower customers?

There is no change whatsoever for customers. It is business as usual. CrossTower and BEQUANT remains deeply committed to delivering on its product roadmap and current and future customer commitments.

What does this mean for partners?

There is no change whatsoever for partners. It is business as usual. Partners remain a growth opportunity for CrossTower and BEQUANT business and a key enabler of our strategy to drive growth and leadership in the digital assets industry.

Will this change affect my pricing or contract with BEQUANT?

No. All customer commitments remain in place and there will be no changes to the working relationship. And there are no pricing changes planned based on this transaction.

Will this change affect the people I am working with at BEQUANT such as my account manager?

No, there are no changes to your account team at this time.

Who is financing this transaction?

This transaction has been backed by the Lydian Group, founded by tech industry veterans Gerard Lopez – co-founder of Mangrove Capital and global tech investor, and Greg Fishman – tech entrepreneur and software architect in AI technology.

What is Lydian Group’s business profile?

The Lydian Group founders’ have established some of the largest players in this space from media to digital wallets and metaverse development companies. Lydian’s media arm is Cointelegraph, which boasts a 44% market share and over 130 million users globally. It is an absolute powerhouse when it comes to informing and educating the crypto and digital asset industry. Other companies controlled by the founders include Verse Estate, Seamm, Stevia, Coin360 and others.

The Lydian Group leadership and board includes:
. Chris Davis- Chief Marketing Officer and Senior Vice President of New Balance
. Lars Fjeldsoe-Nielsen-Founder of 2xN and former General Partner of Balderton Capital
. Gavin Patterson – President and Chief Strategy Officer of Salesforce and former British Telecom CEO
. Mark Tluszcz-Co-Founder of Mangrove Capital Partners and Chairman of Wix.com
. Alex Zubillaga -Founder of 14W Capital, formerly an Executive at Warner Music Group, and Advisor to Spotify


Why is Lydian backing this transaction?

Lydian Group sees a massive opportunity for a clean and necessary reset of the digital asset market. The last few months have shown the limitations brought to the market by the lack of experience of many founders in managing assets and customer funds; amateur governance models; a lack of reporting; a lack of transparency; and, in general, reckless behavior of stakeholders with large asset pools. This reset can only happen around management teams that are experienced in building traditional money management processes, while embracing new asset classes, innovative technologies, and a deep understanding of necessary regulations and processes.

For more information, visit www.crosstower.com or email to [email protected]

Website Guide

Where can I learn more about crypto?

Visit our Education section under our Resources tab and find a wide array of educational content.

Where can I find research reports and other market insights?

Visit our Research Reports Research produced by CrossTower’s expert team is periodically uploaded to the Research Reports and Market Insights sections under the Resources tab.

I am a retail user. Where can I learn more about CrossTower’s offering before I start trading?

Visit our Buy Crypto under the Individuals tab to learn more about CrossTower’s services. Information on additional services can be found on the Crypto Trading API.

Is CrossTower operating in compliance with applicable laws and regulations?

CrossTower complies with the applicable laws and regulations in jurisdictions in which it operates.

Is CrossTower registered with any regulatory agencies?

CrossTower is registered as a Money Services Business (“MSB”) with the Financial Crimes Enforcement Network (“FinCEN”).


CrossTower Bermuda Ltd. (DBA “CrossTower Global”) is registered as a Digital Asset Business, holding a Class F license granted by the Bermuda Monetary Authority.

Is CrossTower subject to any financial services and consumer protection laws?

CrossTower is subject to the Bank Secrecy Act (“BSA”) and the USA PATRIOT Act, which requires MSBs to establish anti-money laundering (“AML”) programs, designate an AML compliance officer, train employees on AML requirements, and establish an independent periodic review of the AML program.
CrossTower also confirms client identities to ensure compliance relevant government sanctions, such as those issued by the United States Department of the Treasury Office of Foreign Assets Control.

CrossTower also confirms client identities to confirm it is not conducting business with relevant government sanctions, such as those issued by the United States Department of the Treasury Office of Foreign Assets
Control.

CrossTower is also subject to privacy regulations that protect customers sensitive personal information

Can CrossTower provide any investment advice?

No. CrossTower is not an investment advisor and is prohibited from providing any investment advice to customers.

Does CrossTower have a mobile app?

Yes -you can download the CrossTower App on the Apple App Store or Google Play Store.

What if I have additional questions?

If you have any additional legal questions please contact CrossTower’s legal team at:[email protected].

If you are aware of an incident involving CrossTower that you believe we should be aware of, please report the incident to: [email protected].