Exclusive FNG… FNG has learned through regulatory filings that shareholders of FCA-registered Cryptoasset services provider Enigma Securities Ltd have injected a further $4.1 million of equity capital into the company, via a share purchase. The capital contribution was made on September 30, 2023.
Towards the end of 2023 we had reported that Enigma shareholders put an additional $8 million in capital into the company at the end of 2022, in part to cover a net loss of nearly $10 million for 2022 at Enigma Securities as the company’s revenue fell by 43%. from $10.9 million in 2021 to $6.2 million in 2022. (Enigma has yet to release its 2023 financial results).
Enigma Securities Ltd is a digital asset liquidity provider owned by Makor Capital, an FCA regulated brokerage firm. Makor Group is an international brokerage and investment banking firm founded in March 2011 by Michael Halimi and Avi Bouhadana, two former senior executives of Cantor Fitzgerald Europe. Enigma Securities Ltd is an FCA registered Cryptoasset firm (930442) and Appointed Representative of Makor Securities London Ltd, which is authorized and regulated by the Financial Conduct Authority (625054).
Enigma’s proprietary trading and execution technology is built to bridge TradFi and DeFi UX. Using quant models, ultra-low latency architecture and the widest range of APIs, Enigma has created an environment where clients can access the vast trading experience gained in Traditional Markets and apply it to digital asset and DeFi markets.