M&G Investments, a division of M&G Plc, recently spearheaded a $30 million funding round for Global Futures and Options (GFO-X), a digital assets trading platform. This significant financial boost comes just before GFO-X’s eagerly anticipated launch.
GFO-X: A New Player in Digital Asset Trading
GFO-X, which operates under the regulatory umbrella of the UK’s Financial Conduct Authority, offers a unique platform for global institutional investors. It specializes in trading futures and options in the digital asset sphere. These trades will be cleared through LCH SA, a part of the London Stock Exchange Group, located in Paris.
M&G Investments’ Strategic Role
M&G Investments, which contributed the majority of the recent $30 million investment, will not only bolster GFO-X financially but also strategically. Their involvement includes a seat on the board of GFO-X Holdings. This partnership is set to propel GFO-X through its upcoming launch and drive innovation in the regulated digital asset market, enhancing both trust and credibility.
Jeremy Punnett, a portfolio manager at M&G, highlighted the current challenges in the crypto derivatives trading market, notably the scarcity of regulated trading venues. He emphasized the UK’s potential to emerge as a global center for crypto asset technology and investment. Punnett regards London as an ideal location for GFO-X’s new global trading exchange.
The LCH SA clearing arm in Paris, part of LSEG, is set to offer a regulated marketplace specifically for bitcoin index futures and options. This move is expected to provide a stable and regulated environment for trading in digital assets.
