Your Own Liberty - Investing and Stock News
  • Investing
  • Stock
  • Latest News
  • Editor’s Pick
  • Economy
  • Investing
  • Stock
  • Latest News
  • Editor’s Pick
  • Economy
No Result
View All Result
Your Own Liberty - Investing and Stock News
No Result
View All Result
Home Investing

British Billionaire Alan Howard’s Crypto Firm Scores UK Watchdog Approval

by
January 24, 2024
in Investing
0
British Billionaire Alan Howard’s Crypto Firm Scores UK Watchdog Approval

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, initially created to manage Howard’s crypto wealth, offers a full Software-as-a-Service (SaaS) platform. It 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.

The post British Billionaire Alan Howard’s Crypto Firm Scores UK Watchdog Approval appeared first on Cryptonews.

Previous Post

What is the difference between an online casino and a crypto casino

Next Post

Nexo Seeks $3B in Damages from Bulgaria Over Aborted Investigation Affecting US Stock Listing

Next Post
Nexo Seeks $3B in Damages from Bulgaria Over Aborted Investigation Affecting US Stock Listing

Nexo Seeks $3B in Damages from Bulgaria Over Aborted Investigation Affecting US Stock Listing

Enter Your Information Below To Receive Trading Ideas and Latest News

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Popular News

    Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

    Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

    June 4, 2025

    Elon Musk warns excessive spending will plunge US ‘into debt slavery’

    June 4, 2025
    Cologne evacuates 20,000 people after three World War II bombs discovered

    Cologne evacuates 20,000 people after three World War II bombs discovered

    June 4, 2025

    About Proud For Profits

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Main Categories

    • Investing
    • Stock
    • Latest News
    • Editor’s Pick
    • Economy

    Latest News

    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products
    • Elon Musk warns excessive spending will plunge US ‘into debt slavery’
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 yourownliberty.com | All Rights Reserved

    No Result
    View All Result
    • Investing
    • Stock
    • Latest News
    • Editor’s Pick
    • Economy

    Copyright © 2025 yourownliberty.com | All Rights Reserved