abrdn leads $28.5 million Series A funding round for Archax
The funding round comes ahead of Archax’s upcoming plans to offer a range of regulated crypto exchange traded products (ETPs).
The funding round comes ahead of Archax’s upcoming plans to offer a range of regulated crypto exchange traded products (ETPs).
The move will allow abrdn to offer clients new investment opportunities through digital securities.
Malcolm Ford joins Archax as head of institutional sales after previous roles at CMC Markets, Instinet, KCG, Morgan Stanley and Credit Agricole Cheuvreux.
Archax originally targeted $5 million but the seed round was extended allowing it to exceed this and reach a total of $8 million funding raised to date.
Archax has become the first digital securities exchange in the UK to be regulated by the FCA, as well as receiving FCA crypto asset registration.
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