GFO-X, a cryptocurrency derivatives trading platform regulated by the UK FCA, has been launched, completing its first institutional transaction

According to Foresight News, as reported by CoinDesk, GFO-X, a cryptocurrency derivatives trading platform regulated by the Financial Conduct Authority (FCA) in the UK, has launched its first transaction between financial institutions Virtu Financial and IMC, and has been cleared by DigitalAssetClean. DigitalAssetClean was created by LCH, a subsidiary of the London Stock Exchange Group (LSEG), and is a cash settled Bitcoin index futures and options contract service. GFO-X has also received support from major banks such as Dutch Bank, Nomura Securities, and Standard Chartered Bank, which provide clearing services for transactions on the platform. Previously, the Financial Conduct Authority (FCA) in the UK lifted its ban on institutional investors' encrypted derivative instruments in March 2024.