UK Crypto Platform GFO-X Secures 20 Million Dollars Investment from Asset Manager M&G

Crypto News- M&G Investments, the asset management arm of Pensions behemoth M&G, recently injected a substantial $20 million into Global Futures & Options Holding (GFO-X), a pioneering U.K.-based crypto derivatives exchange. This strategic move unfolded within the context of a Series B funding round, as disclosed in an official statement released on Monday.

GFO-X stands out as the United Kingdom’s premier Financial Conduct Authority (FCA)-regulated and centrally-cleared trading platform for crypto derivatives. This achievement follows the establishment of a noteworthy partnership with LCH SA, the Continental European clearing house of the London Stock Exchange (LSEG), announced back in April of this year.

UK Crypto Platform GFO-X Secures 20 Million Dollars Investment from Asset Manager M&G

Against the backdrop of a widespread resurgence in cryptocurrency markets, M&G’s foray into the sector appears timely. Cryptocurrencies have experienced a notable upswing in recent months, driven by optimism surrounding the potential approval of a spot bitcoin exchange-traded fund (ETF) in the United States. The anticipated green light for such an ETF is expected to usher in a wave of liquidity, with traditional institutions seeking entry into the digital assets market through regulated instruments.

GFO-X plays a pivotal role in enabling traditional financial institutions to engage in cryptocurrency derivatives trading within a secure and regulated environment. M&G’s substantial funding is poised to facilitate the establishment of a global hub for the trading and clearing of digital asset derivatives, according to statements from the investment firm.

Jeremy Punnett, Portfolio Manager at M&G, underscored the significance of regulated trading venues, asserting that the absence thereof has been a substantial hindrance to the growth of the digital currency trading market. He expressed optimism about the U.K.’s potential to evolve into a global hub for digital asset technology and investment.