Liqi announced the end of its cryptocurrency brokerage, but continues to offer enterprise products.
Liqi announced that it will cease operations as a cryptocurrency broker this Thursday (7). Customers can withdraw assets from their wallets until January 11, 2024. For those who do not do so, their products will be automatically liquidated and the real value will be available in their account, which they can transfer to their bank account or purchase other products on Liqi.
The company announced in an email that it will continue to engage and engage with customers, but will focus on B2B business and “with a particular focus on blockchain, tokenization and digital asset solutions for enterprises.”
In a statement, Liqi emphasized that although it has only ended its activities as an exchange, asset purchases on Liqi continue to operate as normal. The company said it tokenized more than R$60 million in 2023 and expects to reach R$500 million in 2024.
Liqi’s press office provided more details about the changes after being contacted by Portal do Bitcoin. “The truth is that Liqi has always been a technology company and offers products such as tokens and cryptocurrencies on its exchange to the general public,” he said in a message.
According to Liqi, the B2B business side has been very successful, with a focus on the R$20 million TIDC project (short for Credit Rights Investment Token), carried out in partnership with Itaú and trust services company Oliveira Trust.
“In the current market, it makes more sense for us to use our expertise to support other companies looking to provide cryptocurrency trading services rather than necessarily maintaining our own exchange. This may eventually compete with cryptocurrency-as-a-service solutions. We deliver,” the company said.
Lastly, Liqi understands that there is still a space in the market to sell tokens to the general public within the platform.
“We continue to sell tokens as normal to both individuals and entities on our platform because we understand that tokenization needs to be known to more people and businesses,” the advisory said.
Ricky and Itau
In January 2022, Liqi announced that it had received a Series A investment of R$27.5 million led by Itaú Unibanco’s Corporate Venture Capital fund. Oliveira Trust, a leading financial company in the field of fund management and custody services solutions in Brazil; The Honey Island by 4UM fund was created through a partnership between Honey Island Capital and 4UM Investimentos.
This donation, representing a 27.5% stake, values the company at R$100 million.
Want to solve the mystery of Bitcoin? Purchase “Satoshi’s Book,” a collection of Satoshi Nakamoto’s writings and insights.
The post Liqi Announces Closure of Cryptocurrency Brokerage Services, But Continues Enterprise Products appeared first on Portal do Bitcoin
