Digital Currency Revolution Series: Prime Factor Capital (Crypto Hedge Fund) Bags License From FCA to Operate as AIFM

Cryptocurrency has been the center of attraction in the recent past among the wide ranges of the asset class. Cryptocurrency derivatives, including cryptocurrency ETFs, futures, CFDs, and cryptocurrency options) have been under the meticulous scanner of the renowned global regulators, such as US SEC, CFTC and UK’s Financial Conduct Authority (FCA). Various crypto-firms are obtaining a license from CFTC for bitcoin futures trading mechanism, like, Bakkt, LedgerX, and ErisX.

Now, Prime Factor Capital has bagged the approval from the UK regulator the Financial Conduct Authority (FCA) to operate as a full-fledge alternative investment fund manager (AIFM).

Prime factor Capital is headquartered in London, the crypto asset management firm is the first to be approved as a crypto-focused hedge fund by the United Kingdom’s market watchdog. 

Nic Niedermowwe, CEO of Prime Factor Capital, comments: “This is a significant milestone, not just for Prime Factor, but for the industry as a whole. Being FCA-regulated brings us under the purview of one of the most recognized financial markets regulators globally. This is particularly relevant in the cryptocurrency space, which has repeatedly captured headlines for poor operating standards and even fraudulent activity. Investors need to be able to trust their managers not only to generate returns but also to act responsibly and in their best interest.”

Despite the approval, the firm operates under the purview of the European Union guidelines and holds more than 100 million euros in asset under management (AUM).

Currency strength index: FxWirePro's hourly BTC is flashing at 98 (highly bearish), hourly USD spot index was at -25 (mildly bearish), while articulating (at 06:44 GMT). 

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex