M&G Investments leads $30 million raise for GFO-X

M&G Investments takes the lead in raising $30 million for GFO-X

GFO-X, a UK-regulated crypto derivatives platform, has announced a successful Series B funding round of $30 million. The round was led by M&G Investments, the asset management arm of the esteemed pension giant, with $332 billion in assets under management.

The funding secured in this round will provide crucial support for GFO-X as it prepares for its upcoming launch. Launched in 2020, the platform caters to institutional customers seeking a regulated trading venue for derivatives products.

An important development for GFO-X occurred in April when it partnered with LCH, the French clearinghouse unit of the London Stock Exchange Group. This partnership now allows GFO-X to offer clearing services for bitcoin index futures and options on its platform.

Jeremy Punnett, a portfolio manager at M&G, highlighted the urgent need for regulated trading venues in the crypto derivatives market. He stated, “The absence of regulated trading venues is significantly impeding the growth of this market.” Punnett also expressed his optimism for the UK’s potential to become a global hub for crypto asset technology and investment, positioning London as an excellent destination for GFO-X’s new global trading venue. The funding secured from M&G will enable GFO-X to scale its operations, benefitting from the growing trend of investors shifting towards regulated venues.