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KR1 nets US$243,712 from Vo1t sale

Vo1t was seed-0funded by KR1 and served as the company’s main digital asset custody solution from its early stages

KR1 PLC - KR1 nets US$243,712 from Vo1t sale

KR1 PLC (LON:KR1) has said it will receive US$243,712 for its stake in digital asset custodian Vo1t after a takeover of the firm by Genesis Trading was approved by the majority of shareholders.

The blockchain and crypto investment firm said the consideration will be paid in cash immediately following the closing of the deal, which is expected to take place on Friday.

READ: KR1 generates US$352,620 in Rocket Pool digital token sale

Vo1t was seed-funded by KR1 and served as the company’s main digital asset custody solution from its early stages.

KR1 also said it will evaluate Genesis Trading and Vo1t’s combined offering while exploring alternatives in the digital asset custody sector.

“We’ve been on the journey alongside Vo1t since day one and are pleased for the team that their hard work and dedication has been recognised. It’s good to see equity deals go full circle to an exit in the crypto space. KR1’s focus remains on more liquid digital assets, where we are seeing great opportunities in current market conditions, both in newly forming projects as well as in the digital asset secondary markets”, KR1 managing director and co-founder George McDonaugh said in a statement.

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