Digital Assets: Institution-Focused Digital Exchange Archax Is Now FCA Regulated

August 20, 2020 | Digital Assets, News

Archax becomes the first-ever FCA regulated digital securities exchange and custodian in the UK.

Institutions can soon trade on a fully regulated exchange for digital assets. The UK-based Archax digital exchange boasts of several licenses received from the Financial Conduct Authority (FCA). The FCA has licensed Archax to operate as a multilateral trading facility exchange, a broker, and a custodian for cash and assets. Archax also became the first-ever company to receive the FCA crypto-asset registration and is therefore a fully compliant Virtual Assets Service Provider (VASP). (Coin Desk)

Archax can trade digital issuances from across the globe

“We have been talking to the FCA for a while and the application process has been a tough journey, but we are pleased to have now achieved our first significant milestone as we prepare to launch the UK’s first FCA regulated digital securities exchange later this year,” said Archax chief executive Graham Rodford.

“Our technology partners are second to none, we have a pipeline of 35 digital issuances in place, and we are signing up global brokers and market makers ready for go-live,” he added.

SME regulated by FCA

The exchange says it is a marketplace suitable for blockchain and tokenization.  That could help small and medium businesses raise capital in a difficult economic climate.

Indeed, FCA is regulating the Archax Exchange as an SME Growth Market. Therefore, at least 50% of issuers need to be small and medium enterprises.

It is therefore a convenient venue for small and medium enterprises for both digital issuances (to raise capital) as well as a secondary market (for the trading of these issuances).

Exchange targeted at institutions

Apart from the inherent confidence in Archax due to its FCA-regulated status, institutions will also note the following features of the exchange:

  • A class-leading matching engine technology and market surveillance from Aquis
  • R3’s private, permissioned Corda blockchain for post-trade
  • Instantaneous real-time settlement
  • Easily integrable into existing trading workflows
  • Hosted in top-tier data center space
  • Founded by experts from the financial markets and
  • Backed by an accomplished advisory board

Related Story:      Anybody Can Use Tokenizer To Issue Asset-Backed Tokens

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