Tokenised securities exchange Currency.com has been granted a new distributed ledger technology license from the Gibraltar Financial Services Commission (GFSC). 

The London-headquartered company is already licensed in Belarus, but it hopes being licensed in Gibraltar, whose laws are largely based on those of England and Wales, will make its services more attractive to European clients.

Discussing the news Currency.com CEO, Jonathan Squires, said:

“Our operations in Gibraltar are part of our commitment to expanding across the globe, offering a blockchain-backed, highly regulated and secure service designed to give customers the flexibility they’ve been looking for. 

“The Gibraltar Financial Services Commission is composed of sharp-minded, informed individuals, who are at the forefront of regulating complicated emerging industries. Gibraltar has been working on financial regulation in this area for many years and has a strict application process for crypto companies. 

“Our Gibraltar licence is an important endorsement for the platform and further confirms our adherence to the most stringent standards, providing the highest level of safety and security for our traders.”

AYO.NEWS says:

Gibraltar has been working to expand its DLT and blockchain sector for some time now, seeing it, like fellow Mediterranean jurisdiction Malta, as a logical complement to its already well-developed iGaming and financial sectors.

Of course, with the end of the Brexit transition period fast approaching, and the COVID-19 economic crisis intensifying, the British Overseas Territory will have an added impetus to nurture the nascent sector. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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