Looking at the popularity of digital assets, institutions across the globe are showing interest to adapt to them. As per the press release, LSEG is all set to offer Bitcoin futures and options to its clients. The exchange has collaborated with Global Futures and Options (GFO-X) in offering Britain’s first regulated Bitcoin trading in the futures and options segment.
The exchange is waiting for regulatory approvals and the Bitcoin Futures and Options is expected to be officially released in the fourth quarter of 2024. The collaboration of LSEG and GFO-X is backed by the FCA (Financial Conduct Authority) of the UK. This will bring cryptocurrency much closer to mainstream finance and also build trust among the people.
Arnab Sen, founder and CEO of GFO-X said that the recent events in the field of digital assets have highlighted the loopholes in it and the requirement of proper regulations so that the client’s assets are safe and protected. UK plans to be the crypto hub of the world. This step may also attract institutional investors because they look to invest in a regulated environment.
In the last few days, the situation in the UK has been quite tense. The industry participants and lawmakers threatened the government of losing their chance and potential of being a major crypto hub in the world as the regulator had cancelled the license of crypto trading firms on a mass scale. Since then, the regulator has been under intense scrutiny.
However, LSEG is not the only exchange that has shown interest in crypto. Tel-Aviv Stock Exchange also has plans to venture into crypto and has laid a clear roadmap for the coming four years.