Fusion Labs Announces Acquisition of QREDO

10T Holdings (“10T”) and 1RoundTable Partners (“1RT”), pioneering growth equity firms focused on the digital asset economy, announced today the acquisition of substantial assets of Qredo Ltd (“Qredo” or “the Company”) through a UK-based entity, Fusion Laboratories Ltd (“Fusion Labs”), and will relaunch these assets in a new venture.

This transaction follows the appointment of Ian James Corfield and Philip David Reynolds as Joint Administrators of the Company on 1 February 2024. The acquisition came after 10T and 1RT led a bridge financing round and a reorganization of the Company late in 2023 under a reconstituted board.