GFO-X Launches as UK’s First FCA-Regulated Crypto Derivatives Platform
GFO-X has launched the U.K.'s first FCA-regulated crypto derivatives platform, facilitating digital asset trading.
Key points:
- Platform executed its first trade between Virtu Financial and IMC, cleared by DigitalAssetClear.
- DigitalAssetClear handles cash-settled bitcoin index futures and options contracts.
- Supported by banks including ABN AMRO, Nomura, and Standard Chartered for transaction clearing.
- The FCA lifted its 2020 ban on crypto derivatives for institutional investors in March 2024.
- London Stock Exchange announced acceptance of applications for cryptocurrency ETNs.
- Global interest in crypto derivatives is growing, with Galaxy receiving U.K. approval and Coinbase acquiring Deribit for $2.9 billion.