M&G Investments Leads $30 Million Funding Round for GFO-X
Global Futures and Options, a digital assets trading platform, announced on Monday that it has secured $30 million in its second round of funding. The investment was primarily led by Britain’s M&G Investments, marking a significant milestone ahead of GFO-X’s upcoming launch.
Regulatory Approval and Strategic Investment
GFO-X has obtained approval from the UK’s Financial Conduct Authority, allowing it to facilitate digital asset futures and options trading for global institutional investors. These transactions will be cleared through the London Stock Exchange Group’s Paris clearing arm, LCH SA. Notably, M&G Investments, a subsidiary of M&G Plc, will gain a board seat within GFO-X Holdings.
Funding for Launch and Future Innovation
This strategic funding injection will serve as vital capital to support GFO-X’s imminent launch. Furthermore, it is earmarked for bolstering innovation within the regulated digital asset sector. The platform’s aim is to enhance trust and credibility within the digital asset trading market, as articulated in their official statement.
Addressing Challenges in Crypto Derivatives Trading
Jeremy Punnett, a portfolio manager at M&G, emphasized that the crypto derivatives trading market faces significant challenges due to the absence of regulated trading venues. This constraint has hindered its growth potential.
London’s Ascent as a Global Crypto Hub
Punnett also expressed optimism about the UK’s potential to emerge as a global hub for crypto asset technology and investment. He believes that London, with its strategic location, is an ideal destination for GFO-X’s new global trading exchange.
LSEG’s Role in Regulated Crypto Marketplace
LSEG’s LCH SA clearing arm in Paris has pledged to establish a regulated marketplace for bitcoin index futures and options, further reinforcing the growing legitimacy of the digital asset industry.
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