PANews reported on October 31 that according to CoinDesk, Archax, a British crypto exchange and custody platform, announced the acquisition of Spanish brokerage King & Shaxson Capital Markets (KSCM) to expand its business in the European Union. The acquisition still needs to be approved by Spanish regulators. KSCM was established in 2019 and mainly serves pan-European institutional clients. After this acquisition, it will become a wholly-owned subsidiary of Archax, enabling it to expand brokerage, trading and custody services in the European Union and increase its crypto derivatives business.