Saxo Bank Co-Founder Dives into Crypto: Invests in Skynet Trading

Saxo Bank co-founder Christensen invests in Skynet Trading, marking his venture into crypto assets with Seier Capital.

Key Points

• Lars Seier Christensen, Saxo Bank co-founder, invests in Skynet Trading via Seier Capital, marking his entry into crypto.
• Christensen’s investment, along with Edessa Capital’s, reflects increasing institutional interest in crypto ventures.
• Saxo Bank considers selling a stake, valued up to EUR 2 billion, amid shifts in the financial landscape.

Lars Seier Christensen’s Investment Arm Backs Digital Assets Trading Firm

Lars Seier Christensen, the co-founder and former co-CEO of Saxo Bank, has made headlines with a significant investment in Skynet Trading, a burgeoning digital assets trading and algorithmic software development firm. This move marks Christensen’s foray into the crypto market, facilitated through his investment vehicle, Seier Capital. Yesterday, they disclosed the undisclosed investment and a parallel investment from Edessa Capital.

A Milestone for Skynet Trading

Skynet Trading has been fueled solely by its co-founders’ resources until now. The influx of investment from Seier Capital and Edessa Capital represents the company’s first external private shareholders. Notably, the investments arrive amid a period of peak valuation for Bitcoin and other cryptocurrencies.

Commenting on the development, a Skynet co-founder stated, “The addition of Seier Capital and Edessa Capital as private shareholders marks a significant milestone for the company, providing strategic input crucial for our next stage of growth.”

Saxo Bank Co-Founder Dives into Crypto: Invests in Skynet Trading

Christensen’s Shift from Traditional Finance to Crypto

Lars Seier Christensen’s transition from traditional finance to the crypto space underscores a growing trend among industry veterans. As a co-founder of Saxo Bank, Christensen played a pivotal role in steering the institution to manage EUR 95 billion in client assets. Following his divestment from Saxo Bank in 2017, Christensen established Seier Capital to pursue investment opportunities across various sectors.

His venture into cryptocurrencies resonates with his expertise in traditional FX markets. Christensen’s strategic move highlights the growing convergence between conventional financial markets and the burgeoning digital asset landscape.

Edessa Capital’s Perspective

Edessa Capital’s involvement further accentuates the institutional interest in crypto ventures. Founded by partners with experience at Arrington Capital, Edessa focuses its investments on companies within the digital asset realm. A spokesperson from Edessa expressed enthusiasm, stating, “We are excited to back Skynet Trading, a business that has successfully navigated numerous market cycles. We are excited to support their talented team.”

Saxo Bank’s Potential Stake Sale

Meanwhile, Saxo Bank, the institution Christensen co-founded, is reportedly exploring options to sell either a minority or majority stake. Valuations are estimated to range between EUR 1.5 billion and EUR 2 billion. Earlier attempts, including a failed SPAC deal, underscore the challenges traditional financial institutions face amidst the evolving landscape of digital finance.

Lars Seier Christensen’s investment in Skynet Trading reflects the shifting tides within the financial industry as traditional players increasingly embrace the opportunities presented by cryptocurrencies. With institutional interest rising, ventures like Skynet Trading stand poised to redefine the future of digital asset trading and algorithmic software development.

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