Abrdn buys stake in digital assets exchange Archax

British asset manager abrdn has bought a stake in digital assets exchange Archax, amid a wider push by investors into crypto-assets despite a recent plunge in value. The stake, acquired for an undisclosed sum, gives abrdn a seat on the board at Archax and makes the asset manager its largest external shareholder, an abrdn spokesperson said. Founded in 2018, Archax provides access to blockchain-based digital assets and became the first digital securities exchange to win regulatory approval from the Financial Conduct Authority, abrdn said in a statement. "Blockchain technologies are inevi-tably going to form a big part of the future of financial markets," abrdn Chief Executive Stephen Bird said.

— Reuters