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.
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.