GFO-X Secures $30m Series B Funding from M&G Investments to Boost Digital Asset Derivatives Market

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Published: December 10, 2023 at 10:43 pm Updated: December 10, 2023 at 11:06 pm

Edited and fact-checked:
December 10, 2023 at 10:43 pm

In Brief

GFO-X $30m Series B funding, led by M&G Investments, enhances the UK’s position in the regulated digital asset derivatives market.

Global Futures and Options Ltd (GFO-X), the UK’s premier regulated trading venue for digital asset derivatives, raised $30 million in a Series B funding round.

The round was led by M&G Investments, the asset management giant with £332 billion under management, part of M&G plc.

M&G Investments’ decision to lead this funding round and join the Board of GFO-X Holdings underscores their belief in the potential of regulated digital assets.

The investment aims to stimulate growth in the emerging digital asset derivatives sector. It focuses on ensuring that the trading and clearing of these derivatives take place in a regulated and secure environment. Observers view this move as a vote of confidence in GFO-X’s approach and its future in the digital asset market.

GFO-X has made notable strides in addressing the needs of large institutional players in the digital asset space. Their focus on a regulated platform provides these institutions with the assurance of a secure trading venue. GFO-X’s regulation-first approach has already earned them trust and credibility among the largest institutions.

In April 2023, GFO-X formed a partnership with LCH SA, a subsidiary of the London Stock Exchange Group. GFO-X and LCH SA are collaborating to create LCH DigitalAssetClear, a new service for clearing digital asset derivatives. This service, which is currently pending regulatory approval, will specialize in counterparty credit, risk management, and settlement.

GFO-X Aims to Set New Standards

Jeremy Punnett, Portfolio Manager at M&G, highlighted the investment, noting that regulated trading venues are critical for the growth of the crypto derivatives trading market. He emphasized the UK’s potential as a global hub for crypto asset technology and investment.

Arnab Sen, CEO of GFO-X, echoed these sentiments, emphasizing the crucial role of evolving regulations in integrating digital assets into mainstream finance. He also highlighted the complexities in developing a regulated financial market ecosystem for digital assets.

CEO of LCH SA, expressed enthusiasm about the partnership with GFO-X, aiming to provide a regulated marketplace for Bitcoin index futures and options.

This partnership demonstrates LCH SA’s dedication to becoming a prominent international clearing house. It also focuses on the safe growth and development of the digital asset class.

GFO-X’s successful funding round and partnerships mark a pivotal moment in the digital asset derivatives market. GFO-X is on a mission to transform the digital asset trading landscape. It plans to achieve this by enhancing liquidity, connecting institutions, and mitigating risks.

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About The Author

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master’s degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

Nik Asti