GFO-X, a London, UK-based regulated and centrally cleared trading platform, raised $30M in Series B funding.
The round wad led by M&G Investments, which will join the Board of GFO-X Holdings.
The company intends to use the funds to accelerate its forthcoming launch and support future innovation in the regulated digital asset sector, enhancingtrust and credibility in the market.
Led by CEO Arnab Sen, GFO-X is a regulated and centrally cleared trading venue dedicated to digital asset derivatives. Its mission is to deliver enhanced liquidity, institutional connectivity and risk mitigation through high-performance technology and optimised contract specifications. UK FCA authorised and regulated, in April 2023, GFO-X announced a strategic partnership with LCH SA, London Stock Exchange Group’s (LSEG) Continental European clearing house. LCH SA will introduce a new, segregated central counterparty clearing service, LCH DigitalAssetClear, subject to regulatory approval. LCH DigitalAssetClear is focused on counterparty credit, risk management, and the settlement needs of the digital asset derivatives market as institutional products develop.
Commenting on the news, Arnab Sen 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.”
FinSMEs
11/12/2023