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.
- 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 the FCA's approval will spur demand from institutional investors looking for the same level of regulatory oversight and protection received that other assets have.
- In October, Diginex became the first crypto exchange operator to list on Nasdaq when it merged with special-purpose acquisition company 8i.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups 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, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.