Meridien Holdings acquires stake in FX liquidity firm DKK Partners to bolster plans for NYSE listing
US-based holding company Meridien has acquired a 27% stake in DKK Partners in exchange for a “multimillion-dollar cash injection” as it gears up to list on the New York Stock Exchange (NYSE).
DKK Partners sells 27% stake to Meridien Holdings
Founded in 2020 by former Citi and Deutsche Bank executives, DKK Partners specialises in foreign exchange (FX) liquidity and risk management, with a primary focus on serving emerging markets.
Based in London but with additional offices in Dubai, Ghana, Nigeria, Cameroon and Senegal, the fintech operates a platform which provides access to G10 and frontier market currencies without the need for a central bank intermediary.
The platform offers services for FX emerging market liquidity, hedging and risk management, and various channels for cross-border payments.
As part of its new “strategic alliance” with Meridien, the fintech is to supply the holding company, in which it has also gained shares through the transaction, with “global payment, acquiring, banking and FX liquidity capabilities”, according to a statement.
Meridien also stands to benefit from the approval DKK Partners received from the Dubai Virtual Assets Regulatory Authority (VARA) in February, which enables it to provide virtual asset broker dealer services in the UAE.
This was followed by a partnership with Seed Group, a company of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, in April “to enable transparent and efficient transactions for global financial institutions”.
Meridien says the acquisition and aggregation of “financially regulated institutions across multiple geographies” is its “strategic objective”, culminating in the “seamless transfer of value across the Meridien ecosystem combining both TradFi and DeFi”.
The company says it has “set fourth its plans to list on the NYSE”, although a date for the floatation has yet to be confirmed.
Erik Lara Riveros, CEO of Meridien, says that the partnership with DKK, “in conjunction with our other acquisitions of listed and regulated financial institutions, is perfect for Meridien and its preparation to list on the NYSE”.
