GFO-X Secures $30M in Series B Funding Led by M&G Investments to Propel Global Expansion

Bits Logics Team . 11th Dec 2023

• GFO-X proudly announces the successful completion of a $30 million Series B funding round.
• M&G Investments will now join the Board of Global Futures and Options Holdings.
• The newly injected capital will play a crucial role in funding GFO-X through its imminent launch.

In a significant stride towards bolstering the regulated digital asset sector, GFO-X proudly announces the successful completion of a $30 million Series B funding round, spearheaded by M&G Investments. As part of the strategic investment, M&G Investments will now join the Board of Global Futures and Options Holdings, marking a pivotal moment for GFO-X’s growth trajectory.

GFO-X, positioned as a leading service provider catering to the unmet needs of large global institutional participants, focuses on offering a secure and regulated trading venue. This enables institutional players to engage in scalable digital asset derivatives trading while ensuring the utmost protection of their clients’ assets. GFO-X’s “regulation first” approach has already garnered trust and credibility with major institutions, forming a solid foundation for its future endeavors.

The newly injected capital will play a crucial role in funding GFO-X through its imminent launch and will further support ongoing innovation within the regulated digital asset sector. This strategic move is aimed at enhancing trust and credibility in the market, setting a standard for the evolving landscape of crypto derivatives trading.

Notably, in April 2023, GFO-X entered into a strategic partnership with LCH SA, the Continental European clearing house of the London Stock Exchange Group (LSEG). This collaboration resulted in the introduction of a groundbreaking central counterparty clearing service named LCH DigitalAssetClear, pending regulatory approval.

LCH DigitalAssetClear is designed to address counterparty credit, risk management, and settlement needs within the digital asset derivatives market as institutional products continue to evolve.

The partnership is poised to provide a unique and robust service offering, leveraging GFO-X’s in-depth understanding of the digital asset market, optimized contract specifications, and high-performance technology operating 24/7. This will be coupled with LCH SA’s extensive client base and proven risk management capabilities, reinforcing the foundation for a regulated and efficient marketplace.

Jeremy Punnett, Portfolio Manager at M&G Investments, emphasizes the significance of regulated trading venues in fostering the growth of the crypto derivatives trading market. “The UK has the potential to become a global hub for crypto asset technology and investment, making London an excellent destination for GFO-X’s new global trading venue. This investment enables GFO-X to scale its operations as the business is set to benefit from investors shifting their trading from unregulated to regulated venues.”