Elwood Technologies LLP (“Elwood”), a leading software-as-a-service (“SaaS”) platform that offers institutional-grade access to digital asset exchanges and liquidity venues, is pleased to announce its authorization as a service company by the UK Financial Conduct Authority (“FCA”). This recent approval from the FCA solidifies Elwood’s position as one of the first digital asset technology providers to receive regulatory recognition as a service company, marking a significant milestone for the firm.
The FCA’s authorization specifically applies to Elwood’s execution management system (“EMS”) for security tokens and derivatives. With this approval, the Company’s EMS platform allows clients to seamlessly connect to global crypto exchanges and OTC venues, enabling them to trade digital assets through a single application or API.
Chris Lawn, CEO of Elwood, expressed pride in the company’s achievement, highlighting the increasing demand from institutional investors for a digital asset SaaS platform that meets robust regulatory standards comparable to those in traditional finance. He emphasized that obtaining FCA approval is aligned with Elwood’s mission to provide a regulated and transparent end-to-end digital asset platform, reflecting the company’s commitment to operating within the stringent regulatory framework of the UK, a leading financial services jurisdiction.
In addition to the EMS, Elwood’s SaaS platform incorporates risk representation and analytics tools (“PMS”), which have already obtained SOC2 and ISO 27001 information security certifications, further underlining the company’s dedication to upholding the highest standards of security and compliance.
The support of prominent global financial firms, including Dawn Capital, Goldman Sachs, Barclays, and Citi, among others, has contributed to Elwood’s success in securing FCA authorization. Josh Bell, Elwood Board member and General Partner at Dawn Capital, described the achievement as pivotal, underscoring the significance of meeting stringent regulatory standards and the company’s capability to cater to major institutional investors.
Elwood’s progress has also garnered praise from Mathew McDermott, Global Head of Digital Assets at Goldman Sachs, who emphasized the increasing demand for regulatory-compliant digital asset infrastructure in the institutional space, expressing encouragement for Elwood’s strides in meeting these expectations.
Founded by industry experts with substantial experience in traditional finance and digital technology, Elwood seeks to provide comprehensive digital asset infrastructure for institutional investors. Its SaaS platform facilitates connectivity with global crypto exchanges and liquidity providers, offering execution and portfolio analytics functionality alongside advanced risk management tools for digital asset markets, ultimately enabling financial institutions, neobanks, and corporations to access digital asset markets effectively and efficiently.
As Elwood embarks on this new chapter, its authorization as a service company by the FCA sets a precedent for regulatory compliance and market leadership in the digital asset technology landscape, cementing its position as a frontrunner within the industry.
For further information:
Jennifer Berlin
Forefront Communications
+44 (0) 7375 288 641
[email protected]
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