GFO-X Calls for Series B Capital of 30 Million USD

Crypto derivatives platform GFO-X calls for Series B capital of 30 million USD. Photo: IMC

GFO-X is a digital asset derivatives exchange licensed in the UK, just completed Series B round with capital of 30 million USD led by M&G Investments. M&G Investments is an asset management unit value up to 332 billion US. This is part of a large pension fund management group.

Britain’s M&G invests in crypto derivatives platform GFO-X https://t.co/ajYvorpWSV pic.twitter.com/GzQQ7smtCO

— Reuters (@Reuters) December 11, 2023

With this capital call of GFO – X; The new capital will help GFO-X speed up the implementation of upcoming projects. Founded in 2020, this platform is aimed at customers. These are institutions looking for a safe place to trade derivatives.

Jeremy Punnett, Portfolio Director at M&G, said:

“The lack of a legal trading environment is significantly hindering the development of the cryptocurrency derivatives market.”

He emphasized that the UK has enough potential to become a global crypto technology and investment center. At the same time, it is the ideal destination for GFO-X.

In April 2023, GFO-X cooperated with the clearing unit of the London Stock Exchange (LSEG) in France. Furthermore, LSEG also expressed its intention to establish a traditional asset exchange based on blockchain infrastructure.

As for the UK, the country has continuously taken measures. To combat cryptocurrency-related crimes. Recently, the British Royal Family passed a bill freezing cryptocurrency-related activities; without a court order.