DeFi Technologies said Tuesday it has signed a letter of intent to acquire Stillman Digital, an OTC desk and crypto liquidity provider.

The Canadian-based digital asset fintech company will acquire all issued and outstanding securities of Stillman for 2.5 million common shares of DeFi Technologies, valued at CA$4.22 million based on Monday’s closing price. One million of the payment shares will be subject to a lock-up schedule and released quarterly over a one-year period.

Stillman Digital provides products and services in OTC on/off ramp tradeflow, electronic trade execution, OTC block trading and market-making. It has facilitated over $15 billion in trade volume since 2021, with $4 billion of that occurring in the first quarter of 2024, according to a press release.

DeFi Technologies …