Abrdn takes stake in crypto start-up Archax | Business

Abrdn has taken its first step into the digital assets industry after the FTSE 100 fund management group took a stake in the blockchain-focused start-up Archax.

The deal, which is for an undisclosed price, will enable Abrdn to have a seat on the board of the London-based digital securities exchange. Stephen Bird, the Abrdn chief executive, said the investment would give the fund manager a “meaningful footprint” in a quickly growing market.

It is the latest sign that established investment houses are increasingly looking beyond the traditional financial markets to the nascent world of crypto.

Digital assets have surged in popularity in recent years as private and institutional investors pour money into cryptomarkets, including bitcoin. While cryptocurrencies are the most visible element of the industry,

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