After receiving approval from the UK regulatory body Financial Conduct Authority (FCA), Archax has become the first-ever regulated digital securities exchange and custodian.
<h2>Archax Gets MTF License From FCA</h2>
On August 19, while making an <a href="https://archax.com/news/archax-regulated-by-fca-as-first-ever-digital-securities-exchange-in-uk.php" target="_blank" rel="noopener">announcement</a>, Archax stated that FCA has granted it a multi trading facility (MTF) license, so now it can operate as an exchange, a broker, and a cash and asset custodian.

While talking about the FCA certification, the CEO of Archax Grahan Rodford, said, “We have been talking to the FCA for a while and the application process has been a tough journey, but we are pleased to have now achieved our first significant milestone as we prepare to launch the UK’s first FCA regulated digital securities exchange later this year.”

He further mentioned that by the end of the year 2020, Archax will introduce its digital securities exchange. Additionally, Rodford specified that presently they would have to deal with around 35 issues, which are already programmed.
<h2>First-Ever Company Gets Approval For Cryptoasset Registration</h2>
Archax has also become the first company around the world that has received certification from FCA for its crypto-asset registration, so now the company is compliant with VASP.

As per the report, the regulatory body has released this FCA registration program in starting of the year 2020. This program was introduced as a part of the Money Laundering Regulations.

FCA has granted an SME Growth Market certification to Archax so that it could offer efficient channels to the users for raising funds. Also, users could see it as a secondary market that would provide digital instruments for trading.

The tokenized form of equity or debts is digital securities which are not only transferable but also help in enhancing liquidity and settlement times.

Notably, Archax uses R3’s Corda blockchain to make an instant real-time settlement.

As per the earlier report, FCA has announced that all the new businesses in the UK should be registered under it.
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Upcoming Digital Securities Exchange Archax Gets Approval From FCA

After receiving approval from the UK regulatory body FCA, Archax becomes the first-ever regulated digital securities exchange and custodian.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

Upcoming Digital Securities Exchange Archax Gets Approval From FCA

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