Jersey-based Bletchley Park Asset Management on Tuesday announced that it has made a strategic investment into Archax, a forthcoming institutional digital securities exchange.
Based in London, Archax is set to offer trading services to all types of digital securities to institutions and professional traders. The trading platform has also filed an application with the Financial Conduct Authority (FCA) to obtain a license for a multilateral trading facility (MTF) in London.
Though no date has been finalized for its launch, Archax is determined to launch its services this year.
Bringing crypto to institutions
Commenting on the funding, Graham Rodford, CEO and Co-Founder of Archax, said: “We see the tokenization of assets as the next significant step in the evolution of financial markets. As well as bringing liquidity to assets that are currently illiquid and hard to trade, blockchain technology also has the potential to revolutionize traditional liquid financial markets too – particularly by bringing efficiencies and cost savings to the post-trade space.”
“Whilst looking for seed investment, we were keen to find partners who understand what tokenization can bring and that could add real value to the Archax business. Lewis and the team at Bletchley Park deliver exactly that,” he added.
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Rodford is also going to join a panel discussion in the upcoming Barcelona Trading Conference. He will be joined by Kraken’s vice president Austen Alexander, Crypto Facilities’ Sui Chung, Deribit’s co-founder Marius Jansen, and Mariana Gospodinova, COO of Binance Europe, to discuss the institutional adaptation of cryptocurrencies.
Earlier this year, another tokenized venture capital fund, SPiCE VC, also bought stakes of Archax in a similar investment deal.
“We are strong believers in the institutional adoption of blockchain technologies, and the financial markets space is a key area where they have the potential to disrupt, as well as add real value too,” Lewis Fellas, chief investment officer at Bletchley Park, added.
“We are keen to invest in innovative products and teams that really understand this space, and the potential of the technology. Archax clearly fits the bill. We are pleased to have been able to make an early investment in their seed fund stage and are excited about their future potential and the investment opportunities the exchange will bring to market.”