Bitcoin Under Pressure

CryptoCompare Becomes Benchmark Administrator as it Receives FCA Approval

CryptoCompare, the leading digital asset market data and index provider, has received approval from the Financial Conduct Authority (FCA) in the UK and is now a licensed benchmark administrator.

The authorization has been awarded to the company’s data and index subsidiary, CC Data Limited, and it can now issue benchmarks for financial instruments, financial contracts, and the measurement of fund performance. These benchmarks are likely to be used by many investors and traders, big and small, to study the fund performance of various ETFs and other funds and this is likely to give a boost to the market as it is a sign that the crypto market is maturing as an asset class that is comparable to that of the stocks and FX as well. These developments go hand in hand with the launch of various funds and ETFs around the world with both of them being interdependent for the long term.

“As digital asset markets continue to grow, it is vital that investors can access highly reliable and accurate benchmarks which are based upon market-leading research and methodologies,” said Charles Hayter, CEO of CryptoCompare. “Over the last seven years, our pioneering standards have brought rigor and accuracy to this flourishing sector. I am delighted that CryptoCompare has now achieved FCA authorization, creating new avenues for institutional and retail investors to gain exposure to our standard-setting digital asset indices.”

CryptoCompare’s industry-standard indices are relied upon by a diverse range of globally recognized clients, as they offer a comprehensive range of market valuation benchmarks that power leading digital asset financial products. These indices, based on CryptoCompare’s proprietary methodology and research, provide institutional-grade access to the largest and most liquid digital assets. The company provides real-time and historical data for over 5500 coins and tokens as well as over 250,000 tokens pairs as well. This helps to provide a comprehensive view of the entire digital asset market that can in turn be relied upon from traders, right from retail traders to large investors and institutions for their various trading and product development purposes. The key aspect is to provide the right and reliable data over a long period and as far as digital asset data is concerned, CryptoCompare has been the go-to platform for this purpose.