Securities Financing Industry News | Genesis Custody Receives FCA Approval As Cryptoasset Company

Genesis Custody Limited (Genesis Custody) has received approval from the Financial Conduct Authority (FCA) to be a registered cryptoasset company.

The approval signifies that Genesis has a governance and compliance framework committed to combating financial crime, and that the company meets the same anti-money laundering standards as other financial institutions under the jurisdiction of the FCA.

Genesis Custody provides separate multi-asset storage for the complete custody of client assets.

Genesis Custody clients have access to portfolio management and execution through Genesis Global Trading, as well as yield generation opportunities through Genesis Global Capital.

These represent the key building blocks of Genesis’ integrated Custody Execution solution as a full-service primary digital currency broker, providing trading, brokerage and lending services, as well as custody. digital currencies.

The news follows Genesis Custody’s acquisition of Vo1t – a London-based digital childcare provider – in May 2020.

Since then, Vo1t’s proprietary technology has been integrated into the larger Genesis ecosystem, with the curation solution rolling out in May 2021.

Arianna Pretto-Sakmann, General Counsel at Genesis, said: “This is an important step in our strategy to provide institutional clients with regulatory-compliant cryptocurrency services. This approval also reflects our commitment to work with the regulators ー of the FCA. and elsewhere ー as this asset class evolves. We will continue to do so as we expand our services in the months to come.

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