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UK Crypto Exchange Archax Launches FCA-Regulated Custody Service

U.K.-regulated cryptocurrency exchange Archax has launched a digital asset custody service with the blessing of regulators, as institutional crypto players button up their operations and try to rebuild trust in the sector. The London-based Archax and its

U.K.-regulated cryptocurrency exchange Archax has launched a digital asset custody service with the blessing of regulators, as institutional crypto players button up their operations and try to rebuild trust in the sector. The London-based Archax and its new custody business are among the few offerings to have cleared the Financial Conduct Authority’s (FCA) high bar for firms dealing in digital assets. All assets held in custody will be entirely segregated and “solvency-remote” from the exchange, said Archax, meaning that if the trading business did go bust, custodied assets would not be included in any bankruptcy proceedings.

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