CryptoCompare Gets FCA Authorization to Operate as Benchmark Administrator

London-based data aggregator and index provider CryptoCompare has received authorization from U.K. regulatory body, the Financial Conduct Authority (FCA), to operate as a benchmark administrator, the company announced Thursday.

• CryptoCompare said its data and index subsidiary, CC Data Limited, has received FCA approval to issue benchmarks for financial instruments and measure fund performance.

• The firm provides data and benchmarks for digital assets based on market research and methodologies.

• “I am delighted that CryptoCompare has now achieved FCA authorisation, creating new avenues for institutional and retail investors to gain exposure to our standard-setting digital asset indices,” said Charles Hayter, CEO of CryptoCompare, in a statement.

• A number of other firms provide data by tracking the performance of crypto instruments and funds, including TradeBlock, which is owned by CoinDesk, and the Bloomberg Galaxy Crypto Indices that was launched by Bloomberg Index Services Limited and Galaxy Digital Capital Management.