In a significant development for the institutional adoption of digital assets, M&G Investments, the asset management arm of pensions giant M&G Plc, has invested $20 million in a UK-based crypto derivatives trading platform.
The move represents a step forward in restoring institutional confidence in the crypto market following the collapse of FTX last year, according to a recent Bloomberg report.
Crypto Derivatives Platform Scores Big
According to Bloomberg, M&G Investments acquired the stake as part of a $30 million series B funding round for Global Futures and Options Ltd., known as GFO-X.
The capital injection was made on behalf of M&G’s £129 billion Prudential With-Profits Fund, a testament to the growing interest of traditional asset managers in the crypto space.
GFO-X, which entered into a strategic partnership with LCH SA, a subsidiary majority-owned by the London Stock Exchange Group (LSEG), earlier this year, is set to utilize LCH’s clearing service, Di
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