Elwood receives FCA authorisation
24 January 2024 UK
Image: Brian Jackson/stock.adobe.com
Digital asset infrastructure firm Elwood Technologies has been authorised as a service company by the UK Financial Conduct Authority (FCA).
The authorisation specifically applies to the company’s execution management system (EMS) in reaction to security tokens and derivatives, which allows clients to connect to and trade on global crypto exchanges and over-the-counter (OTC) venues through a single application or application processing interface.
Elwood’s software-as-a-service (SaaS) platform includes the EMS, alongside execution and portfolio analytics and risk management tools for digital assets markets. It has previously received SOC2 and ISO 27001 information security certificates.
The company is backed by global firms including Goldman Sachs, Barclays and Citi.
Chris Lawn, CEO of Elwood, says: “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.”
Mathew McDermott, global head of digital assets at Goldman Sachs, comments: “Today’s announcement shows Elwood’s progress in meeting the consistently increasing need for institutional grade, regulatory compliant digital asset infrastructure.
“We are encouraged by the strides taken in the UK to bring digital asset companies in line with the regulatory expectations of the traditional finance world.”
The authorisation specifically applies to the company’s execution management system (EMS) in reaction to security tokens and derivatives, which allows clients to connect to and trade on global crypto exchanges and over-the-counter (OTC) venues through a single application or application processing interface.
Elwood’s software-as-a-service (SaaS) platform includes the EMS, alongside execution and portfolio analytics and risk management tools for digital assets markets. It has previously received SOC2 and ISO 27001 information security certificates.
The company is backed by global firms including Goldman Sachs, Barclays and Citi.
Chris Lawn, CEO of Elwood, says: “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.”
Mathew McDermott, global head of digital assets at Goldman Sachs, comments: “Today’s announcement shows Elwood’s progress in meeting the consistently increasing need for institutional grade, regulatory compliant digital asset infrastructure.
“We are encouraged by the strides taken in the UK to bring digital asset companies in line with the regulatory expectations of the traditional finance world.”
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