Bitcoin News Thebittimes.Com

Elwood Technologies LLP, a prominent software-as-a-service platform supported by major financial entities, including Goldman Sachs , has achieved a significant milestone with authorization as a service company from the UK Financial Conduct Authority (FCA). This approval encompasses Elwood’s execution management system (EMS), specifically tailored for security tokens and derivatives, consolidating the company’s standing as a provider of institutional-grade access to digital asset exchanges and liquidity venues. FCA Approval and Adherence to Regulatory Standards The FCA’s approval establishes Elwood as one of the trailblazing digital asset technology firms authorized as a service company. This acknowledgment underscores Elwood’s dedication to meeting stringent regulatory standards akin to those prevalent in traditional finance. It further addresses the escalating demand from institutional investors for a compliant software-as-a-service (SaaS) platform for digita...

The crypto market has seen several turbulent phases over the years. The ongoing one, however, seems to be the most stormy to date. Like dominoes, companies have been collapsing one after the other. With firms in the space still trying to find their feet post the FTX episode, Goldman Sachs is reportedly looking to shell out “tens of millions of dollars” to buy or invest in crypto companies. Mathew McDermott, Goldman Sachs’ Head of Digital Assets, told Reuters that FTX’s disintegration augmented the need for more trustworthy, regulated crypto players. He added that big banks saw an opportunity to pick up business. Without giving specific names, the executive revealed that Goldman was doing due diligence on a number of different crypto firms. Additionally, in an interview last month, McDermott said that the company saw “some really interesting opportunities, priced much more sensibly.” FTX Fallout: A Blessing in Disguise for Goldman? Goldman S...