Yesterday digital assets firm Elwood Technologies announced it received approval as a service company from the U.K.’s Financial Conduct Authority. Elwood provides an institutional execution management system providing one-stop-shop access to numerous digital asset liquidity providers for crypto traders. It was founded by Alan Howard, the former CEO of Brevan Howard, who remains the controlling shareholder. Investors include Dawn Capital, Goldman Sachs, Barclays, Citi, CommerzVentures, Flow Traders and others.
These investors were previously announced during Elwood’s $70 million Series A funding in 2022, except for Citi. Additional new investors since then include Hong Kong’s HashKey and hedge fund Two Sigma.
Like many similar platforms, Elwood positions its offerings as software as a service. In a statement, Elwood said FCA approval covers ‘security tokens and derivatives’. According to the FCA website, the approval was granted in November.
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