CryptoCompare Gets FCA Authorization to Operate as Benchmark Administrator

The London-based company provides data and benchmarks for digital assets based on market research and methodologies.

Nov 4, 2021 at 12:53 p.m. UTC
Updated Nov 4, 2021 at 2:41 p.m. UTC

London-based data aggregator and index provider CryptoCompare has received authorization from U.K. regulatory body the Financial Conduct Authority (FCA) to operate as a benchmark administrator, the company said Thursday.

  • CryptoCompare said its data and index subsidiary, CC Data Limited, has received FCA approval to issue benchmarks for financial instruments and measure fund performance.
  • The firm provides data and benchmarks for digital assets based on market research and methodologies.
  • “I am delighted that CryptoCompare has now achieved FCA authorization, creating new avenues for institutional and retail investors to gain exposure to our standard-setting digital asset indices,” said Charles Hayter, CEO of CryptoCompare, in a statement.
  • A number of other firms provide data by tracking the performance of crypto instruments and funds, including TradeBlock, which is owned by CoinDesk, and the Bloomberg Galaxy Crypto Indices that was launched by Bloomberg Index Services Limited and Galaxy Digital Capital Management.

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Tanzeel Akhtar is a CoinDesk news reporter based in the UK.