Elwood has been approved by the FCA to provide trading services for security tokens and derivatives.

ChainCatcher news, according to The Block, cryptocurrency trading service company Elwood Technologies has received approval from the UK's Financial Conduct Authority (FCA). Elwood stated that the authorization is related to its execution management system for security tokens and derivatives, which allows its clients to connect to cryptocurrency exchanges and over-the-counter trading.

It is reported that Elwood was founded by Alan Howard, the former CEO of Brevan Howard, who remains the majority shareholder.

According to the crypto data platform RootData, in May 2022, Elwood Technologies completed a $70 million Series A funding round, led by Goldman Sachs and Dawn Capital, with participation from Barclays, BlockFi Ventures, Digital Currency Group, Flow Traders, and Galaxy Digital Ventures, among others.