Archax (company)
 | |
| Company type | Private |
|---|---|
| Founded | 2018 |
| Founder | Graham Rodford, Andrew Flatt, and Matthew Pollard |
| Headquarters | London , UK |
| Website | archax |
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]
History
[edit]Archax 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.[citation needed] 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 2022, Abrdn bought a stake in the digital assets exchange Archax.[18][1][2] In November 2022, Archax completed its Series A funding round, raising $28.5 million.[19]
In June 2023, Archax launched prototypes of digital versions of FTSE100 shares and UK government bonds on the blockchain.[20][21][22]
In February 2024, 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.