Enzyme Acquires Majority Stake in MYSO in Move to Expand Asset Management Platform
4th September 2024, Enzyme Finance, a leading on chain asset management protocol for builders and managers, is acquiring a majority stake in a DeFi protocol that specializes in bespoke on-chain structured products for HNWIs and treasuries, MYSO Finance. With MYSO’s integration, Enzyme will now offer clients the ability to conduct bespoke covered call options, adding a powerful new feature to its platform.
MYSO, renowned for developing DeFi products at the intersection of lending and structured products, aligns perfectly with Enzyme’s mission to simplify and enhance on-chain asset management.
Enzyme Finance has built a reputation for providing builders with the tools to create and manage digital asset products more efficiently whilst accelerating time to market. It enables asset managers to create and manage a variety of funds and structured products using Enzyme’s comprehensive suite of portfolio construction, data analysis, management and reporting tools.
Leading crypto investment bank, Areta acted as the sole buy-side advisor for the transaction with LEXR advising on the legal side. Areta has also been mandated by Enzyme to identify additional targets to fuel its growth via acquisition as Enzyme continues to build the most comprehensive on chain asset management platform.
Enzyme, with the support of Areta, is actively screening the market and looking for further full token or token plus cash opportunities across eight areas; trading, DAO treasury management, LR & LST projects, regulated players, fintech, real world asset applications, composability opportunities in DeFI and on chain index providers.
Mona El Isa, Co-founder of Enzyme Finance, said:
“Acquiring MYSO is a significant milestone for Enzyme Finance. MYSO’s expertise in crafting innovative and enduring DeFi products complements our vision of making Enzyme the most comprehensive on chain asset management platform. .
“This partnership will empower our users to explore new strategies using covered calls further enhancing their ability to manage and grow their assets on-chain.”
Aetienne Sardon, Founder of MYSO Finance, commented:
“The MYSO team is thrilled to join forces with Enzyme to develop new on-chain yield opportunities and introduce structured products to a broader audience. We are proud to partner with Enzyme, a pioneer and thought leader in on-chain asset management, and we eagerly look forward to working alongside them on product innovation and distribution.
“Our shared conviction for creating cutting-edge DeFi solutions fuels our commitment to growing MYSO as part of the larger Enzyme ecosystem.
“The acquisition marks the beginning of a new chapter for both companies, as they combine their strengths to offer even more powerful tools for the DeFi community. Enzyme clients can look forward to seamless integration of MYSO’s offerings, with enhanced capabilities rolling out in the coming months”.
Karl Martin-Ahrend,Co-founder Areta, commented:
“Enzyme’s acquisition of MYSO Finance is a great example of a cutting-edge web3 deal structure coming into place, with pioneering creative solutions addressing tokens. Web3 introduces novel variables to the M&A landscape, with tokens playing a central role for many companies — both in terms of utility and operations, and as an investment vehicle. M&A deals in this space require careful consideration and innovative transaction structures, such as token deals and token mergers. Orchestrating and aligning novel forms of underlying governance adds to the complexity.
“Furthermore, the Enzyme acquisition strategy is an example of how the demand for specialized web3 talent is driving the growth of the M&A market and is also an interesting use case of web3 development through industry consolidation.”
