UK pension fund M&G backs first British Bitcoin derivatives exchange with $20 million investment

M&G, a UK-based pension fund's investment arm, has invested $20 million in Global Futures & Options Holdings (GFO-X), the first regulated Bitcoin derivatives exchange in the UK.

The investment is part of a $30 million Series B funding round for GFO-X, which plans to focus on clearing Bitcoin index futures and options contracts.

GFO-X aims to establish a regulated and centrally cleared trading platform for crypto derivatives under the supervision of the UK's Financial Conduct Authority (FCA).

Jeremy Punnett from M&G believes the UK could become a global hub for digital asset technology and investment, with London being an ideal location for GFO-X’s new global trading venue.