Diginex’s custodial arm, Digivault, has won regulatory approval from the U.K.’s Financial Conduct Authority (FCA) to register as a custodian wallet provider under anti-money laundering regulations.
- The firm is the first stand-alone digital-asset custodian to receive approval from the FCA under 2017 regulations designed to combat money laundering and financing of terrorism, according to an emailed announcement Friday.
- Digivault offers custody services for bitcoin, ethereum, USDC and other ERC-20 and ERC-1400 tokens.
- It provides both cold and so-called warm storage, which incorporates hardware and software firewalls to protect assets while ensuring they remain readily available.
- Digivault expects FCA approval to spur demand from institutional investors, who are looking for the same level of regulatory oversight and protection received with other assets.
- Diginex became the first crypto exchange operator to list on Nasdaq in October 2020 by merging with special-purpose acquisition company 8i.
See also: Diginex Connects Crypto Exchanges and Electronic Trading Firms With New Platform
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