Prime Factor Capital Ltd., a London-based hedge fund manager is the first financial company focused on the crypto market to be granted a license by the British Financial Conduct Authority (FCA).

The company announced in a statement earlier this week, that it was given approval and will be regulated as a full scope alternative investment fund manager under the FCA and the broader EU guidelines.

According to a company statement that will give them permission to manage over 100 million euros (113 million USD) in crypto assets, as well as to attract institutional investors.

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