Britain's M&G invests in crypto derivatives platform GFO-X
trading platform, said on Monday that Britain's M&G Investments has led a $30 million second round of funding ahead of its launch.
GFO-X is licensed by the UK's Financial Conduct Authority for global institutional investors to trade digital asset futures and options that will be cleared at the London Stock Exchange Group's Paris clearing arm LCH SA.
M&G Investments, which provided most of the latest $30 million funding, is part of M&G Plc, and will have a seat on the board of GFO-X Holdings.
«The strategic investment will fund GFO-X through its forthcoming launch and support future innovation in the regulated digital asset sector, enhancing trust and credibility in the market,» GFO-X said in a statement.
Did you Know?
As a beginner to cryptocurrency investing, you should consider two critical things. First, you should determine and understand your risk tolerance, as cryptocurrencies can be volatile. Only invest what you can afford to lose. Secondly, don’t put all your funds in one cryptocurrency; diversify to mitigate risks. Deciding where to invest your hard-earned money can be difficult.
View Details» M&G portfolio manager Jeremy Punnett said the lack of regulated trading venues is materially hampering the growth of the crypto derivatives trading market.
«The UK has the potential to become a global hub for crypto asset technology and investment, making London an excellent destination for GFO-X's new global trading exchange,» Punnett said.
LSEG's LCH SA clearing arm in Paris said it will provide a regulated marketplace for bitcoin index futures and options.
