According to Foresight News, Archax, a UK-based digital asset exchange and custody service company, plans to launch a tokenized asset exchange targeting professional investors and institutions by the end of this year. Simon Barnby, Chief Marketing Officer of Archax, made the announcement.

Established in 2018, Archax has received permissions from the UK Financial Conduct Authority (FCA) for trading, custody, and brokerage services. In August 2022, investment firm Abrdn, with over $619 billion in assets, announced that it had become the largest external shareholder of digital asset exchange Archax. In December 2022, Archax completed a $28.5 million Series A funding round, with Abrdn as the main strategic investor. Other supporters included Bitrock Capital, Blockchain Coinvestors, and the Tezos Foundation.