In a strategic move to enhance its digital asset trading capabilities, VersiFi, a prominent digital asset trading and lending firm, announced the acquisition of Ather Digital, a spinout from systematic quantitative investment firm Manifold Capital Partners. Completed in May, the financial details of the transaction remain undisclosed. This acquisition integrates advanced trading technologies such as direct market access (DMA), algorithmic trading, and smart order routing (SOR) into VersiFi’s offerings.

Ather Digital, established by Manifold in 2022, has developed its technology in collaboration with high-frequency trading (HFT) hedge funds, tailored specifically to meet the rigorous demands of digital assets trading. Post-acquisition, Manifold, along with other leading investors, will hold minority stakes in VersiFi.

Technological Integration and Market Impact

Sameer Shalaby, founder and co-CEO of VersiFi, expressed enthusiasm about the acquisition, stating, “This acquisition accelerates our product strategy and gives us a comprehensive suite of trading solutions earlier than anticipated.” Shalaby emphasized that Ather’s technology is designed with the specific needs of quantitative investment managers in mind, offering superior performance, efficiency, and interoperability that are expected to translate into significant cost savings for clients.

The integration of Ather Digital’s team and its Abu Dhabi office into VersiFi marks a significant expansion of VersiFi’s operational footprint, particularly in the United Arab Emirates. Sidharth Sankhe, founder and chief technology officer of Ather Digital, will lead as Head of Quant Trading Technologies at VersiFi, joining its executive leadership team.

Strategic Endorsements and Future Directions

The acquisition has received strong support from industry leaders. Jae Chung, founder and CEO of Manifold Capital Partners, remarked, “VersiFi is perfectly equipped to turn Ather’s vision into reality. With so many ways to collaborate, Manifold will be giving maximal support to VersiFi as they continue to scale.”

Additionally, Richard Blankenship, Founder & General Partner of Dream Ventures, highlighted the synergistic potential of the merger, stating, “VersiFi’s vision is complementary to Ather’s – and ours – and we are confident that their combined technology and teams will create a highly differentiated industry offering.”

The acquisition of Ather Digital by VersiFi represents a pivotal development in the digital assets trading industry, promising to enhance VersiFi’s technological capabilities and market reach. This strategic expansion is poised to deliver innovative solutions that meet the evolving needs of global clients, reinforcing VersiFi’s position as a leader in the digital trading and lending space.

  algorithmic trading technology, Ather Digital, digital asset trading, smart order routing, VersiFi, VersiFi acquisition