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BPX has secured comprehensive regulatory approval from the Financial Conduct Authority (FCA) to operate as a Multilateral Trading Facility (MTF), Alternative Investment Fund Manager (AIFM), cryptoasset exchange and custodian wallet provider in the UK.
The London-headquartered firm is developing an integrated marketplace designed to support the complete lifecycle of securities, encompassing issuance, trading and collateralised lending of both traditional dematerialised and tokenised securities, alongside settlement and custody services for tokenised securities.
BPX has achieved a notable regulatory milestone as the only FCA-authorised trading venue to successfully pass Gate 1 of the Bank of England and FCA's Digital Securities Sandbox (DSS). The company is currently progressing its Gate 2 application.
The firm has also been added to the UK's cryptoasset register in May, becoming only the third entity to receive approval in 2025. This positions BPX at the intersection of regulatory compliance, capital markets and distributed ledger technology.
Dr Robert Barnes, BPX Co-CEO
Dr Robert Barnes, BPX Co-CEO, said: “Our vision is a marketplace of best practice, modernised for institutions, offering access through a single connection to a broader range of hard-to-access alternative assets, such as infrastructure and real estate investment funds, whether traditional or tokenised—available for issuance, trading, and use as collateral.”
Ali Celiker, BPX Co-CEO
Ali Celiker, BPX Co-CEO, added: "Our comprehensive regulatory permissions and integrated market infrastructure strongly position us to advance our mission: enhancing access and liquidity for issuers and investors, while leading the transformation of capital markets from legacy systems to tokenised workflows – firmly anchored in regulatory compliance and driven by innovation."
BPX is now entering its operational phase, preparing for live operations and welcoming institutional participants to connect ahead of its first transaction. The company's distributed ledger technology-enabled platform enables efficient tokenisation at scale, aiming to broaden investment opportunities, unlock new liquidity sources and facilitate capital access.
Initial UK operations will focus on real-world asset-based funds, including real estate and money market funds, with expansion plans to other fund types and alternative investment products within a multi-jurisdiction UK and UAE offering. BPX has established an entity at the DIFC Innovation Hub in the UAE to support future expansion plans.
