Crypto

Investment will assist with the forthcoming launch of FCA-authorised digital asset derivatives venue, GFO-X, alongside supporting the growth of regulated digital assets.

Move comes as part of the firms’ commitment to adapt to technological developments to benefit their client base.

Eligible clients will now be able to transact and manage cryptocurrencies alongside other asset classes in a single account and interface.

New Acuiti report found that most respondents expect between 26-50% of listed crypto derivatives trading volumes to be conducted onshore following establishment of new regulatory frameworks.

Around two thirds of firms are set to make higher than average investments in 2024, with algo trading tools, connectivity to new markets, and market data the top priorities, according to the latest Acuiti report.

The launch is supported by B2C2, BlockFills, CQG, Cumberland DRW, Jump Trading Group, Marex, StoneX Financial, Talos, tastytrade, Trading Technologies and Wedbush.

Individual has previously held senior positions at: Citi, Goldman Sachs, Bank of America Merrill Lynch, PwC, and Coinbase.

Named Citi Token Services, the capability will provide on a 24/7 basis: cross-border payments, liquidity, and automated trade finance solutions.

Under the EU regulatory framework, BME Clearing can now clear Bitcoin and Ethereum futures.

Around 23 exchanges confirmed that regulation remains the key challenge when it comes to offering crypto assets, according to a report from the World Federation of Exchanges (WFE).