FRESNOFORECLOSURE

Headquarters co-founders Sunny Singh (L) and Sharon Paul (R) with Gnosis founder Martin Köppelmann

German Web3 infrastructure firm Gnosis has acquired Singapore-based on-chain business account platform Headquarters (HQ.xyz) in a strategic transaction valued at up to US$14.95 million.

The investment comprises an initial investment of up to US$8.95 million from the GnosisDAO treasury, which was approved through a DAO vote in January.

In addition, Gnosis has committed an additional US$6 million in working capital to support HQ.xyz’s growth, compliance, and operations over the next two years.

Also Read: Headquarters raises US$5M to provide tools for Web3 teams to fully control their internal finances

The move marks Gnosis’s first formal expansion into Asia and aims to accelerate its “Gnosis 3.0” roadmap, focusing on scaling real-world stablecoin payments globally.

Following the acquisition, HQ.xyz will be rebranded to Gnosis HQ and fully integrated into the broader Gnosis ecosystem, which includes Gnosis Chain, Gnosis Pay, Safe, CoW Swap, and karpatkey.

This integration is central to Gnosis’s strategy to propel the adoption of an open internet by building applications for payments, identity, and a decentralised, globally accessible and secure web.

Founded in 2022, Headquarters enables companies to manage their treasury and make payments using stablecoins while maintaining full control of their assets through self-custody.

Its key offerings include:

• A self-custodial Visa corporate card that allows businesses to spend stablecoins at over 300 million merchants worldwide.
• Stablecoin off-ramps to third-party bank accounts and access to traditional banking services.
• A reporting suite designed to simplify the reconciliation of digital assets with popular accounting software such as Xero and QuickBooks.

The platform is already used by notable Web3 businesses, including Mantle Chain, Ocean Protocol, and Pixelmon. HQ.xyz’s core differentiator is the integration of payments and reporting capabilities into a single, streamlined platform.

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Stefan George, co-founder of Gnosis, commented: “With Gnosis now in its 10th operational year, we know first-hand the banking difficulties faced by Web3 founders and businesses. The acquisition of HQ.xyz represents a critical advancement of our Gnosis 3.0 vision: our mission to build an open internet including the payments stack for it. We look forward to harnessing HQ.xyz’s product and team expertise to support our realisation of this vision as we work to bridge the technical potential of blockchain, including stablecoins, with the needs of individuals and businesses.”

The acquisition also marks a significant step for Gnosis in leveraging the regional expertise of the HQ.xyz leadership team, who bring over a decade of experience spanning the tech startup, fintech, and Web3 ecosystems in Asia, particularly Southeast Asia.

Sharon Paul, CEO and co-founder of HQ.xyz, said: “Web3 projects have been busy building the future of finance, yet many still struggle with basic operations such as paying salaries, rent, or software bills. At Headquarters, our mission is to make self-ownership of money practical, even at the business level, by bridging stablecoins and self-custodial wallets with mainstream business FinOps. Joining the Gnosis ecosystem gives us the backing to push this vision further.”

Also Read: Can Singapore stay on top of the Web3 world? All signs say yes

In 2022, Headquarters secured US$5M in pre-seed funding from Crypto.com Capital, Forge Ventures, MassMutual Ventures, Saison Capital, Coinhako, Longhash Ventures, Ocular, Sky9 Capital, and DWF Labs.

Gnosis, known for building open applications and infrastructure for the new economy, underpins its ecosystem with Gnosis Chain, a decentralised blockchain extending Ethereum with lower transaction costs.

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The post Gnosis forays into Asia with US$14.95M acquisition of Headquarters appeared first on e27.