Crypto derivatives trading platform GFO-X is expected to be launched in Q1 2025

major financial companies such as Standard Chartered Bank and Virtu Financial Inc. are preparing to join a new London-based cryptocurrency derivatives trading platform as the market rebound increases the attractiveness of digital currencies. The trading platform, Global Futures and Options Ltd. (GFO-X), announced on Monday that it has signed contracts with ABN Amro Clearing and market maker IMC, and is expected to launch in the first quarter of next year. GFO-X is supported by M&G Investments (the asset management division of pension giant M&G Plc). GFO-X will handle the trading of Bitcoin index futures and options, and was initially planned to be launched before the end of 2023, but was delayed twice and failed to meet the scheduled launch date. Arnab Sen, CEO of GFO-X, said that due to the rebound of the cryptocurrency market triggered by Trump's re-election to the White House, financial companies' interest in the platform has surged again.