GFO-X, the cryptocurrency derivatives platform in the United Kingdom, received investment from a group of names, including M&G Investments.
GFO-X, $385 billion in assets under the leadership of M&G Investments, which manages $30 million Successfully completed the Series B investment round.
According to the statement, the fund will be used to launch the platform. GFO-X was founded in 2020 for institutional clients looking to trade cryptocurrency derivatives.
M&G portfolio manager Jeremy Punnett said in a statement today that “a lack of regulated trading venues has significantly hindered the growth of the crypto derivatives trading market.”
“The UK has the potential to become a global hub for crypto asset technology and investment, making London the perfect location for GFO-X’s new global trading hub. “This investment allows GFO-X to scale its operations as the business is poised to benefit from investors shifting their trading from unregulated to regulated platforms.” he added.