British Billionaire Alan Howard’s Crypto Firm Scores UK Watchdog скачать в хорошем качестве

British Billionaire Alan Howard’s Crypto Firm Scores UK Watchdog

Shalini Nagarajan Last updated: January 24, 2024 06:23 EST | 1 min read Source: Midjourney Goldman Sachs-backed crypto platform Elwood Technologies announced Wednesday that the firm secured regulatory approval as a service provider. The Financial Conduct Authority’s approval covers Elwood’s execution system for security tokens and derivatives. Elwood, founded by British Billionaire Alan Howard, raised $70m in May 2022. The Series A round, co-led by Goldman Sachs and early-stage venture fund Dawn Capital, raised its valuation to $500m. Barclays, Citi, and Two Sigma are among other TradFi heavyweights backing Elwood. Galaxy Digital, Chimera Capital, and DCG also back the firm. Elwood, which offers a full Software-as-a-Service (SaaS) platform, hooks up with crypto exchanges worldwide, letting institutional investors trade digital assets. Crunchbase data shows that Howard personally made substantial investments in the crypto sector, supporting around 40 crypto companies like Polygon and Komainu. Elwood Expects TradeFi Players to Invest More in Crypto. The UK-based firm now expects TradFi players to invest more in digital assets, despite 2022’s setbacks. It is one of the first digital asset service providers authorized by the FCA, per Elwood’s CEO. Mathew McDermott, Goldman Sachs’ head of digital assets, said the FCA’s approval indicates Elwood’s progress in building regulatory-compliant digital asset infrastructure. “We are excited to be a key stakeholder of Elwood Technologies and encouraged by the strides taken in the UK to bring digital asset companies in line with the strong regulatory expectations of the traditional finance world,” he said in a statement. It’s worth noting that the FCA has a multi-step process in place to authorize companies operating in the crypto space. First, companies need to check if their activities fit within the Money Laundering Regulations and the FCA’s rules. When approved, the company will be listed in the FCA’s register and receive a unique identification number. Follow Us on Google News https://cryptonews.com/news/crypto-ap... #crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptoworlddaily #cryptotrading #cryptotradingnews #cryptotradingnewstoday #fca #fcanews #fcanewstoday #uk #uknews #crypto ***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT! This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research. bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple