CryptoCompare, the leading digital asset market data and index provider, has received authorisation from the Financial Conduct Authority (FCA) and is now regulated as a Benchmark Administrator.

The FCA authorisation, awarded to CryptoCompare’s data and index subsidiary, CC Data Limited, licenses CryptoCompare to issue benchmarks for financial instruments, financial contracts and the measurement of fund performance. CCCAGG, CryptoCompare’s proprietary family of benchmarks for pricing digital assets, is based on 24-hour, volume-weighted average calculation, time-penalty factor and outlier methodology, covering 500+ liquid asset pairs.

“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 rigour and accuracy to this flourishing sector. 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.”

CryptoCompare’s FCA authorisation allows service providers to create regulated financial products that are underpinned by CryptoCompare’s suite of leading digital asset indices. This includes the creation and issuance of investment product referencing indices; reference rates, contract settlement pricing, portfolio asset allocation and the measurement of fund performance.

CryptoCompare’s industry-standard indices are relied upon by a diverse range of globally recognised clients, offering comprehensive 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.