TROOPS has signed a merger agreement with EFFORCE Group, combining the Nasdaq-listed company’s financial technology and insurance operations with EFFORCE’s blockchain infrastructure, digital asset expertise, and regulatory capabilities.
The transaction is intended to expand TROOPS beyond traditional cryptocurrency exchange capabilities into a broader digital asset infrastructure platform spanning multiple business verticals. Financial terms of the merger were not disclosed.
EFFORCE was co-founded by Apple co-founder Steve Wozniak and has developed technology and infrastructure focused on digital assets and sustainability-related applications. Wozniak will remain a shareholder of EFFORCE following the transaction.
Through the combination, TROOPS expects to gain access to EFFORCE’s technology and licensing framework while expanding into areas that could include digital asset trading as well as potential access to markets for carbon credits and green certificates.
The combined organization plans to pursue opportunities across digital assets, sustainability-focused initiatives, financial services integration, and related technology businesses. TROOPS said the expanded infrastructure could also strengthen its ability to serve institutional and commercial customers across multiple markets.
Management expects the combination to create opportunities to diversify revenue streams and accelerate growth by bringing together TROOPS’ existing market presence with EFFORCE’s digital asset capabilities, regulatory infrastructure, and sustainability-oriented technology.
The merger remains subject to customary closing conditions and required approvals. The companies plan to work together on integration efforts following completion of the transaction.
KEY QUOTES:
“This merger represents a significant milestone for TROOPS as we continue to expand our digital asset infrastructure and diversified business platform. The combination of EFFORCE’s technology, regulatory capabilities, and industry expertise with TROOPS’ existing operations creates new opportunities for growth, innovation, and value creation.”
Damian Thurnheer, President And CEO Of TROOPS
“The combination of EFFORCE’s licensing framework, digital asset expertise, and sustainability-focused initiatives with TROOPS’ market presence creates a strong foundation for future development across multiple business verticals. We believe the transaction will enable the combined group to explore new strategic opportunities while leveraging the strengths of both organisations.”
Sergio Carloni, CEO Of EFFORCE Group
