London, United Kingdom-based regulated and centrally cleared trading platform, GFO-X raises USD 30 million in Series B. M & G Investments led the financing for the company.
Purpose of financing for GFO-X
As a part of the deal, M&G Investments joins the Board of Global Futures and Options Holdings. The strategic investment also funds GFO-X’s forthcoming launch. Meanwhile, the financing supports future innovation in the regulated digital asset sector, enhancing trust and credibility in the market.
What the investors have to comment
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 venue. 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.”
What the CEO has to add
Arnab Sen, CEO of GFO-X, further said, “Evolving regulation will bring digital assets into mainstream finance. This transition demands traditional market structures to solve the multiple risks currently associated with the digital asset market. However, building a regulated financial market ecosystem is complex, time-consuming and expensive, and the pitfalls of taking shortcuts are now clear for all to see. The long-term viability of digital assets and the digitisation of real tangible assets requires careful collaboration between traditional market participants and modern innovators. Having a patient long-term capital partner such as M&G is crucial as we build the next generation of global financial market infrastructure for digital assets.”
What does the LCH official have to comment
In addition, Corentine Poilvet-Clédière, CEO of LCH SA, said, “LCH SA is excited to be working with GFO-X. Together with the industry, we want to provide a regulated marketplace for Bitcoin index futures and options. We further look to expand our services to become a truly international clearing house. We look forward to the launch of the service, ensuring the safe growth and development of this asset class as demand from institutional market participants grows.”
GFO-X announced a partnership with LCH earlier in April 2023.
Arnab Sen and Sadiq Melwani launched the company in 2020. Global Futures and Options Ltd (GFO-X) is the UK’s first regulated and centrally cleared trading venue dedicated to digital asset derivatives.
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