Abaxx acquires strategic stake in fine art trading platform ARTEX

TORONTO/VADUZ - Abaxx Technologies Inc. (CBOE:ABXX) has acquired a strategic position in ARTEX AG, the regulated trading venue for fine art, the financial software and market infrastructure company announced Thursday. The move comes as Abaxx stock trades near $30.24, having delivered an impressive 232% return over the past year according to InvestingPro data.

Under the agreement, Abaxx will acquire convertible debentures that could give it up to 10% ownership in ARTEX, with warrants for an additional 9.9%. The first tranche has been issued, with a second expected to close around January 2026.

The companies have entered a cooperation agreement providing Abaxx access to a new regulated market for its Digital Title and ID++ technology, along with the opportunity to develop futures contracts on Abaxx Exchange based on a transaction-based price index for fine art.

"The global art market—with $2.5 trillion of assets in private hands—has remained opaque and illiquid precisely because it lacks both [smarter data and trusted market infrastructure]," said Josh Crumb, Founder and CEO of Abaxx, in the press release statement.

ARTEX CEO Yassir Benjelloun-Touimi stated that Abaxx's "expertise in market structure and state-of-the-art digital title technology are the perfect complement to our regulated exchange."

The partnership aims to provide Abaxx with expanded access to European markets through ARTEX's network of institutional partners, including European banks and asset managers. ARTEX is regulated by the Financial Market Authority in Liechtenstein and compliant with the Markets in Financial Instruments Directive.

ARTEX Global Markets AG, a subsidiary of ARTEX AG, operates a multilateral trading facility that enables fractional ownership and real-time trading of fine art ranging from Renaissance to 20th century works.

Abaxx Technologies is the majority shareholder of Abaxx Singapore Pte. Ltd., which owns Abaxx Exchange and Abaxx Clearing.

In other recent news, Cantor Fitzgerald has initiated coverage on Abaxx Technologies with an Overweight rating. The firm has set a price target of $81.00 for the company's stock. Cantor Fitzgerald highlights Abaxx's commodities exchange and integrated technology platform as key factors in addressing global and regional trading issues. The firm also notes that Abaxx's platform tackles industry-specific trading challenges, which are often caused by competitors' outdated technology infrastructure. These recent developments suggest a positive outlook from Cantor Fitzgerald regarding Abaxx Technologies' position in the market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.