Skip to main content

MGT Capital Investments and Tera Group Partner to Enter into the Capital Markets

By March 1, 2015Bitcoin Business
Click here to view original web page at www.forexminute.com
MGT Capital Investments and Tera Group Partner to Enter into the Capital Markets

MGT Capital Investments and Tera Group have partnered to venture into the capital markets. The two companies are going to form the first regulated Bitcoin derivatives platform TeraExchange going public on the New York Stock Exchange (NYSE) MKT, the leading equities capital market for small cap companies.

Talking to media professionals TeraExchange CEO Christian Martin and president and COO Leonard Nuara explained that the company had been looking to enter the capital markets for three months. According to the two, the latest partnership with MGT will help them set footmarks in Bitcoin ecosystem which is gaining momentum around the world.

TeraExchange Wants to Cash in Scope in Bitcoin Market

Christian Martin understands the importance of Bitcoin for TeraExchange when he says that Bitcoin consumes the majority of its mindshare at the firm. According to him it’s their Bitcoin listing and subsequent certification that has the most commercial possibilities for them right now and it’s a business it is very keen to cultivate and nurture along.

The official press release informs that Tera is led by a talented management team with a combined 47 years of experience in capital markets and derivative products, 43 years in legal and regulatory, and 46 years in technology development and engineering. A major reason behind the company deciding to move into capital market is Christian Martin.

Martin has spent more than 20 years in senior trading and management positions at Merrill Lynch and Bank of America, where he was responsible for global trading desks of interest rates, credit, and financing – securities lending transactions. Now, he wants to extend the scope of the services that his company offers and venture into capital markets.

The Agreement to be finalized on 16th March

TeraExchange also indicates that it believes the move will give both itself and the Bitcoin industry greater visibility in the capital markets. Interestingly, it is not the only company that is going to trade on the NASDAQ; some other Bitcoin companies like Bitcoin Shop trade OTC, BitGold have traded as well.

The two companies say that once public investors would likely see TeraExchange “ramp up” the release of stats and statistics about its marketplace. The agreement, scheduled to be finalized on 16th March and approved by shareholders, would see MGT issue shares of its common stock to Tera Group representing 70% of the company’s pro forma equity.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com

Talking to media professionals TeraExchange CEO Christian Martin and president and COO Leonard Nuara explained that the company had been looking to enter the capital markets for three […]

Leave a Reply