PANews reported on May 14 that according to CoinDesk, the first crypto derivatives trading platform GFO-X approved by the UK Financial Conduct Authority (FCA) was officially launched. The first transaction on the platform was completed by financial institutions Virtu Financial and IMC, and cleared through the DigitalAssetClear service of LCH, a subsidiary of the London Stock Exchange Group. GFO-X is supported by large financial institutions such as ABN AMRO, Nomura Securities and Standard Chartered Bank, and provides cash settlement services for Bitcoin index futures and options contracts. The launch marks a new progress in the UK's crypto regulation. Previously, the FCA lifted the ban on crypto derivatives for institutional investors in March 2024, and the London Stock Exchange also announced that it would accept applications for cryptocurrency ETNs.

Earlier in December 2023, it was reported that GFO-X completed a US$30 million Series B financing round, led by M&G Investments .