Diginex Arm receives first FCA approval as Crypto Custodian

Diginex is the first stand-alone digital-asset custodian to receive approval from the FCA under 2017 regulations . Diginex receive approval from FCA regulation for custody services.

May 14, 2021, | AtoZ Markets - Digivault, the secure digital asset custody business of Nasdaq listed Diginex Limited (Nasdaq: EQOS) , 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.

Digivault 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.

The approval represents a key milestone in Digivault’s strategy to provide compliant and secure custody services to corporate and institutional investors in crypto assets. Remember that  CEO Richard Byworth has said and always has emphasized in now is “a watershed moment for both Diginex and the cryptocurrency industry”.

Who Is Digivault

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Digivault its a company that provides digital asset custody that integrates physical and virtual security, giving institutions tangible solutions in a rapidly evolving world.

They deliver a powerful custodian that combines multiple layers of protection, eliminating the need for trust in a single person or group of people.

As part of a Nasdaq-listed company, they are accountable to the SEC, meaning increased regulation, and management trust through their processes and technology.

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Great Announcements for the Company

The FCA registration also follows a recently announced partnership with Torstone Technology to deliver post trade settlement and digital asset custody to institutional clients via Torstone’s settlement platform.

Rob Cooper, CEO of Digivault, said: “We have been delighted to work so closely with the FCA on obtaining this registration. Operating within the FCA’s MLR framework provides our clients the assurance that their assets are being custodied within the highest possible standard of governance, control and oversight. "

Digivault offers custody services for Bitcoin, Ethereum and other 1400 tokens, and expects  FCA approval to spur demand from institutional investors, who are looking for the same level of regulatory oversight and protection received with other assets.

It is important remember that Diginex became the first crypto exchange operator to list on Nasdaq in October 2020 by merging with special-purpose acquisition company 8i.

This are good news for investors, since more control by regulators, the safer our funds will be.

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