Bitcoin

UK’s first regulated and centrally cleared trading venue Global Futures and Options Ltd., also known as GFO-X has <a href="https://www.gfo-x.com/" rel="noopener noreferrer nofollow">completed a $30 million Series B funding round</a> with M&amp;G Investments as the lead. Markedly, the $332 billion asset management arm of the pensions giant invested $20 million in the crypto derivatives trading platform.&nbsp;
This marks a significant step towards restoring institutional investors’ confidence in the crypto landscape after the collapses that hit the industry last year. It provides a platform for traditional finance investors to gain exposure to several crypto-asset derivatives investment products.
<h2 id="b-mg-partners-with-lch-on-btc-index-futures-b">M&amp;G Partners With LCH on BTC Index Futures&nbsp;</h2>
The move comes barely eight months after M&amp;G Investment signed a partnership deal with London Stock Exchange Group-majority-owned LCH SA.&nbsp; The partnership is designed to have GFO-X utilize LCH’s new clearing service, DigitalAssetClear. Specifically, GFO-X will use this platform to clear Bitcoin (BTC) index futures and options contracts that trade on its platform.
According to a GFO-X spokesperson, clients’ demand has contributed to “longer lead times”, therefore, both DigitalAssetClear and the partnership with GFO-X&nbsp; had wanted to launch this year. However, the launch is expected in the first quarter of 2024 and GFO-X is sure that the secured fund will play a significant role in this event.
<h2 id="b-the-need-for-crypto-regulation-b">The Need For Crypto Regulation&nbsp;</h2>
Meanwhile, Jeremy Punnett, M &amp; G portfolio manager, highlighted the fact that the lack of regulated trading venues is hindering the advancement of the crypto derivatives trading market to a large extent. Furthermore, he presented London as a perfect location for GFO-X’s new global trading venue to thrive.&nbsp;
Punnett made this observation while acknowledging that the UK has the potential to become a global hub for crypto asset technology and investment. “This investment enables GFO-X to scale its operations as the business is set to benefit from investors shifting their trading from unregulated to regulated venues,” the portfolio manager added.
<h2 id="b-uk-authorities-intensifies-efforts-towards-crypto-regulation-b-span-style-font-weight-400-span">UK Authorities Intensifies Efforts Towards Crypto Regulation&nbsp;</h2>
The <a href="https://thecoinrise.com/ftx-bankruptcy-filing-reveals-exchanges-huge-debt/" rel="noopener noreferrer nofollow">collapse of top crypto exchanges like FTX</a> has necessitated the need for regulation and compliance amongst crypto projects. GFO-X is working towards becoming a Financial Conduct Authority (FCA) regulated and centrally-cleared trading platform for crypto derivatives.
Similarly, <a href="https://thecoinrise.com/uk-treasury-publish-final-proposal-for-crypto-regulation/" rel="noopener noreferrer nofollow">authorities in the UK are putting together regulations</a> to ensure that investors are safe in whatever crypto investment they indulge in.
The post <a href="https://thecoinrise.com/gfo-x-completes-30m-series-b-funding-round/" rel="noopener noreferrer nofollow">GFO-X Completes $30M Series B Funding Round</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

GFO-X Completes $30M Series B Funding Round

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