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Archax, based in London, is the UK's first FCA-regulated digital asset exchange, brokerage, and custodian, and was also the first entry on the FCA's Cryptoasset Register.[1][2][3][4]
| Company type | Private |
|---|---|
| Founded | 2018 |
| Founder | Graham Rodford, Andrew Flatt, and Matthew Pollard |
| Headquarters | London , UK |
| Website | archax |
History
editArchax was founded by Graham Rodford, Andrew Flatt, and Matthew Pollard in London, in April 2018.[5][6][7][8] In August of the same year, the company partnered with Custom House Global Fund Services (now part of Apex) to enhance its anti-money laundering measures to attract City firms to the digital currency market.[9][10]
In August 2020, Archax announced becoming the first FCA-regulated digital securities exchange, broker and custodian in the UK, as well as being the first firm on the FCA's new Cryptoasset Register. According to Bloomberg, Archax had asked the UK Financial Conduct Authority to regulate it.[11][12][13]
In October, Archax closed its seed raise with a total funding of $8 million.[14][15][16][17]
In August, Abrdn bought a stake in the digital assets exchange Archax.[18][1][2]
In November, Archax completed its Series A funding round, raising $28.5 million.[19]
In June, Archax launched prototypes of digital versions of FTSE100 shares and UK government bonds on the blockchain.[20][21][22]
In February, Archax introduced its Stablecoin Yield Service, enabling stablecoin holders to transform their assets into yield-generating options. The service includes access to regulated Money Market Funds (MMFs), which are offered in both traditional and tokenized formats.[23][24][25]
References
edit- ^ a b "Tougher UK crypto regime sparks boom for compliance advisers". www.ft.com. Retrieved 2024-05-31.
- ^ a b "Abrdn buys stake in digital assets exchange Archax". Reuters. 2022-08-12. Retrieved 2024-05-31.
- ^ Laurent, Lionel (10 December 2021). "Even the Smartest Investors Fall for Crypto FOMO". bloomberg.com. Retrieved 2024-05-31.
- ^ Nkwocha, Kizzi. The Book of Money and Finance: Valuable strategies to help you achieve financial freedom. Athena Publishing.
- ^ Goss, Louis (2022-08-13). "Abrdn snaps up stake in London crypto startup Archax". CityAM. Retrieved 2024-05-31.
- ^ Basar, Shanny (2021-12-15). "Archax Nears Launch of UK Regulated Digital Asset Exchange". Markets Media. Retrieved 2024-05-31.
- ^ "Abrdn buys stake in digital assets exchange Archax". Yahoo Finance. 2022-08-12. Retrieved 2024-05-31.
- ^ Daniel, Alex (21 March 2023). "Archax's crypto believer boss Graham Rodford: 'We enable Abrdn to be more dynamic' on digital assets". fnlondon.com. Retrieved 2024-05-31.
- ^ Parkin, Darren (2023-10-08). "Crypto firms told they have three months to fall in line with FCA's new marketing rules". CityAM. Retrieved 2024-05-31.
- ^ Bobeldijk, Yolanda (12 August 2018). "London crypto exchange Archax bolsters fraud defences". fnlondon.com. Retrieved 2024-05-31.
- ^ Marsh, Alastair (9 May 2019). "SocGen Introduces Crypto to a $2 Trillion Market". bloomberg.com. Retrieved 2024-05-31.
- ^ "Institutional-grade digital asset exchange Archax secures FCA authorisation". Finextra Research. 2020-08-19. Retrieved 2024-05-31.
- ^ Smith, Annabel (19 August 2020). "Archax becomes first FCA regulated UK digital securities exchange - The TRADE". www.thetradenews.com. Retrieved 2024-05-31.
- ^ "Digital asset exchange Archax closes $8 million seed round". QBN Capital. 2020-10-15. Retrieved 2024-05-31.
- ^ "Archax closes overfunded seed raise – Company Announcement - FT.com". markets.ft.com. 15 October 2020. Retrieved 2024-05-31.
- ^ "Digital asset exchange Archax closes $8 million seed round". Finextra Research. 2020-10-15. Retrieved 2024-05-31.
- ^ Novac, Dragos. "Archax secured funding totalling $8m to date from Alameda Research, Amnis Ventures, Bridgetower Capital et all". Nordic 9. Retrieved 2024-05-31.
- ^ "Abrdn buys stake in digital asset exchange Archax". Finextra Research. 2022-08-12. Retrieved 2024-05-31.
- ^ Bray, Wesley (November 9, 2022). "abrdn leads $28.5 million Series A funding round for Archax - The TRADE". www.thetradenews.com. Retrieved 2024-05-31.
- ^ Daniel, Alex. "Archax pilots digital FTSE 100 stocks and gilts on blockchain". www.fnlondon.com. Retrieved 2024-05-31.
- ^ "Digital asset exchange tokenises stake in £16bn abrdn money market fund". investmentweek.co.uk. 2023-06-08. Retrieved 2024-05-31.
- ^ Shome, Arnab (2023-07-26). "Archax Launches Institutional Crypto Exchange, Lists 2 Pairs". Financial and Business News | Finance Magnates. Retrieved 2024-05-31.
- ^ Faridi, Omar (February 26, 2024). "Archax, the UK FCA Regulated Digital Asset Exchange, Introduces Stablecoin Yield Service". crowdfundinsider.com. Retrieved 2024-05-31.
- ^ Steves, Rick (2024-02-23). "Archax launches Stablecoin Yield Service". FinanceFeeds. Retrieved 2024-05-31.
- ^ "Archax Introduces Crypto/ MMF Trading Pairs". Financial and Business News | Finance Magnates. 2023-10-10. Retrieved 2024-05-31.