PANews reported on July 22 that according to CoinDesk , British digital asset exchange Archax will acquire German regulated crypto asset management company Deutsche Digital Assets ( DDA ) to strengthen its business layout in major European financial markets such as the UK, Germany and France. DDA currently manages approximately US$ 70 million in assets and focuses on distributing crypto exchange-traded products ( ETPs ) through European banks and asset management institutions. The acquisition will bring Archax new licenses such as portfolio management and investment consulting under the supervision of Germany's BaFin , enabling it to better serve EU institutional clients.