Hyperion Announces Acquisition of Vanbex Labs Blockchain Technology Solutions Rocket and CryptoTaxes
Hyperion Technologies Inc. (“Hyperion” or the “Company”) is pleased to announce the acquisition of two blockchain technology products developed by Vanbex Labs Inc. (“Vanbex”). This acquisition propels Hyperion into its next stage of growth, offering comprehensive issuance and back-end liquidity of blockchain-based assets for its institutional clients. Hyperion is aiming to develop an institutional-grade security token exchange supported by a third party ATS license, focused on the trade and execution of securities instruments using blockchain technology. These acquisitions will enrich Hyperion’s offerings to trader clients.
The Company acquired the following two blockchain technology products from Vanbex:
Rocket: An end-to-end solution for launching security tokens using proprietary smart contracts. It enables the creation, deployment, and issuance of various forms of digital assets.
CryptoTaxes: Simplified tax solution developed for cryptocurrency traders to calculate their capital gains and losses from digital asset trading for annual tax filings.
The digital asset that will connect the Rocket and CryptoTaxes solutions with Hyperion’s systems will be the FUEL token. FUEL was launched by Vanbex in 2017, and the token will continue to operate as a utility-based cryptocurrency to pay for transaction fees, API integrations, and services provided in the digital asset ecosystem between Hyperion and the Vanbex blockchain technology products that it has acquired.
“Hyperion has always focused on growth-to-value for its clients, investors, and stakeholders,” comments Michael Zavet, CEO of Hyperion. “Acquiring Rocket and CryptoTaxes was a strategic move enabling us to focus on a larger market share, which we are very excited about.”
Lisa Cheng, founder of Vanbex commented “This acquisition allows the value of the products and the business models they represent to continue under Hyperion’s banner and we are thrilled to see Rocket and CryptoTaxes reach their potential this way. It has certainly been a tumultuous year in the blockchain industry and we are excited that Rocket and CryptoTaxes will be represented and valued for the compelling solutions that they are.”
This acquisition allows Hyperion to offer an end-to-end solution for companies seeking to issue a digital asset, raise funds in the marketplace, and list on a regulated exchange in a fully compliant ecosystem with expert support available every step of the way.
Vanbex Group will continue to operate as a blockchain consulting company with a focus on supporting Hyperion’s growth from its offices in Vancouver, Canada.