The FCA [Financial Conduct Authority] has granted several licenses to digital securities exchange and custodian Archax – making it one among the world’s first authorized trading spaces for the assets.
Earlier today on Wednesday, Archax revealed that it has been now licensed as a multilateral trading facility (MTF) exchange, a broker, a cash and asset custodian.
It is also the primary cryptocurrency-asset firm to be registered with the FCA – a designation which will soon be mandatory for all companies working within the digital asset space from January next year.
The London-based exchange, that is orientated towards institutions, is now authorized to host offerings, act as a trading venue also as custody digital securities.
Matthew Pollard – The co-founder & CFO added that Archax had become a “one-stop-shop” for the still-nascent digital securities space.
A digital security is a catch-all term for traditional assets, like equity or debt, that has been tokenized and placed on the blockchain.
The upshot from Wednesday’s announcement is that institutions are going to be able to trade digital securities on a licensed marketplace for the very first time within the United Kingdom.
Archax CEO Graham Rodford said the exchange now had 35 issuances within the pipeline.
Pollard said that Archax employed its own specific admissions criteria for the sort of digital securities it might allow on its platform.