Andro announces acquisition by Dubai-licensed fintech Infinity Capital
The undisclosed seven-figure acquisition by the UAE-based firm aims to enhance its services with the blockchain product built by the Colombian startup, complemented by an eight-month support commitment from Andro’s technical team for a smooth integration.
[DUBAI, UAE, MARCH 5TH, 2024]: Andro, a security infrastructure for crypto management on financial institutions, proudly announces its acquisition by Infinity Capital, a premier Dubai-based fintech company specializing in blockchain validation, stablecoins and other digital asset arbitrage. With this acquisition, the product’s capabilities will be improved, seeking to exceed one billion dollars in transacted volume by the end of the year. A milestone that would mark a solid position for Andro in the market, under the complete new management of Infinity Capital.
Amid a digital financial landscape where stablecoins have become pivotal, Andro emerges as a guardian for these assets, with a market capitalization exceeding $136 billion. In 2022 alone, stablecoins were at the heart of over $7 trillion in on-chain transactions, demonstrating a 15% increase from the previous year, according to Coinmetrics. More remarkably, the transaction volume of a single stablecoin, USDT, within custody-exchange volumes on platforms like Binance, surpassed $18.2 trillion, outpacing the combined transactional volume of giants Visa and MasterCard. This backdrop underscores the growing reliance on stablecoins for international transfers and savings, signifying their role as a practical and efficient medium in the global economy.
Andro’s innovative platform empowers clients to manage their digital assets securely and efficiently. In their current version, clients can connect their personal custody wallets, such as MetaMask or Ledger, to Andro’s system. Here, smart contracts diversify their holdings across various types of stablecoins to mitigate parity loss risks while continuously monitoring market prices. This system enables swift decision-making and asset exchange in the face of volatility, exemplified by incidents like the UST (Terra Luna) debacle, the FTX collapse, or the Silicon Valley Bank crisis affecting USDC’s value. The advent of new stablecoins and traditional banks like Societé Generale and HSBC venturing into tokenized assets and deposits on the blockchain further illustrates the dynamic evolution of the financial landscape. Andro’s role in this ecosystem is crucial, offering a robust and responsive platform for navigating the complexities of digital currency investments.
Jose Pino, Andro’s founder, is a renowned figure in cybersecurity, credited with identifying vulnerabilities in the security protocols of over 30 major institutions, including Microsoft, Yahoo!, PayPal, and Harvard University. His work in developing open-source tools like Trape, aimed at combating terrorism and criminal activities, and Temcrypt, a multi-layer information encryption mechanism resistant to common brute-force attacks, has set new standards in the field of ethical hacking and cybersecurity.
The founding team consists of Jaime Varela, also founder of Zulu, an international business payments startup that successfully secured US$5 million in venture capital funding; Carlos Villarreal, the strategic mind and designer responsible for the seamless user experience; and Daniel Esposito, the leader of the development team. Their combined efforts have been pivotal to Andro’s development and triumph.
As they transition away from Andro, Jose Pino reflects on the acquisition:
“We are confident that under Infinity Capital’s ownership, Andro will not only see enhanced capabilities but will also greatly contribute to Infinity Capital’s value. While I step into a new chapter focusing on AI-powered cybersecurity, I am excited to see Andro thrive in its next phase of growth.”
Embarking on a mission to redefine AI-powered cybersecurity, Jose Pino is focused on crafting cutting-edge solutions to shield institutional and governmental systems against the growing cyber threat landscape. This endeavor will harness their combined expertise in technology and security, highlighting their global commitment to cybersecurity innovation. Meanwhile, under Infinity Capital’s stewardship, Andro is set to achieve greater success, with its solutions reaching new heights of excellence and innovation.
About Infinity Capital
Infinity Capital is a licensed fintech company based in Dubai, specializing in blockchain validation and the international arbitrage of stablecoins. With a commitment to innovation and excellence, Infinity Capital is dedicated to advancing the fintech industry by offering secure, cutting-edge solutions.
About Andro
Andro offers protection for stablecoins (soon more cryptocurrencies) through smart contracts on the Ethereum and Polygon networks, becoming the security infrastructure for financial institutions that use this type of digital assets. Under the leadership of Infinity Capital, Andro is poised to grow and continue to pioneer industry standards in security and innovation.
