Elwood Technologies, backed by Goldman Sachs, has received the necessary regulatory permission to operate in the UK.
According to the statement made by Elwood CEO Chris Lawn, the approval received by FCA “legally regulated and transparent end-to-end digital asset platform” It represents an important step in its creation.
Elwood, from a group of investors, primarily Goldman Sachs and Dawn Capital, in May 2022. 70 million dollars had received investment. Among investors Barclays, BlockFi Ventures, Chimera Ventures, CommerzVentures, Digital Currency Group, Flow Traders and Galaxy Digital Ventures also took part.
Thanks to the approval the company received securities and derivative tokens can provide management services. Elwood’s clients use the company’s platform to connect to crypto exchanges and over-the-counter platforms.