Becomes one of the first digital asset
technology providers to receive FCA regulatory approval as a
service company
LONDON, Jan. 24, 2024 /PRNewswire/ -- Elwood Technologies
LLP ("Elwood" or "the Company"), a leading software-as-a-service
("SaaS") platform that provides institutional-grade access to
digital asset exchanges and liquidity venues, today announced it
has been authorised as a service company by the UK Financial
Conduct Authority ("FCA"). This authorization applies to Elwood's
execution management system ("EMS") in relation to security tokens
and derivatives. The Company's EMS platform allows clients to
connect to global crypto exchanges and OTC venues, through a single
application or API, to trade digital assets.
Chris Lawn, CEO, Elwood,
said, "Elwood is proud to become one of the first digital asset
technology firms authorised as a service company by the FCA.
Institutional investors are increasingly looking for a digital
asset SaaS platform that meets robust regulatory standards akin to
those in traditional finance. Securing FCA approval supports this
need and marks another step in Elwood's mission to provide an
end-to-end digital asset platform in a regulated and transparent
manner from the UK, one of the world's leading financial services
jurisdictions."
Elwood's SaaS platform – which includes risk representation and
analytics tools ("PMS") in addition to the EMS – has already
received SOC2 and ISO 27001 information security
certifications.
The Company is backed by leading global financial firms,
including Dawn Capital and Goldman Sachs (NYSE: GS), alongside
Barclays (LON: BARC), Chimera Capital, Citi (NYSE: C),
CommerzVentures, DCG, Flow Traders (Euronext: FLOW), Galaxy
Digital, HashKey and Two Sigma.
Josh Bell, Elwood Board member and General Partner at Dawn
Capital, said, "This is a pivotal moment for Elwood on its
ambitious growth journey. The FCA only authorises fintechs that
meet incredibly stringent regulatory standards. Achieving this
status is further proof of Elwood's market-leading position, and
will help the company deliver for major institutional investors in
the long term. A rapidly growing number of institutions today want
what Elwood offers: a fully regulated, compliant platform that can
aggregate prices, route orders, and provide broad access to
liquidity. What a great start to 2024, and congratulations to the
entire team."
Mathew McDermott, Global Head
of Digital Assets at Goldman Sachs, said, "Today's
announcement shows Elwood's progress in meeting the consistently
increasing need for institutional grade, 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."
About Elwood:
Elwood is an established, global fintech building digital assets
infrastructure for institutional investors. Its seamless end-to-end
SaaS platform connects to global crypto exchanges and liquidity
providers and delivers execution and portfolio analytics
functionality with advanced risk management tools for digital asset
markets. Built by industry experts with decades of combined
experience in traditional finance and digital technology, Elwood
provides market infrastructure at scale, enabling financial
institutions, neobanks, and corporations to access digital asset
markets quickly and efficiently.
CONTACT INFORMATION
Jennifer
Berlin
Forefront Communications
+44 (0) 7375 288 641
jberlin@forefrontcomms.com
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