Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Cryptocurrency and tokenized commodity exchange Currency.com has obtained a license permitting it to operate in Gibraltar.
News of the license being issued arrives at the perfect time for the Minsk-based trading platform, which is looking to expand into new markets.
Currency.com is already licensed by Belarusian authorities, making the Gibraltar license the icing on the cake and the prelude to entering new crypto-friendly markets.
Having obtained the distributed ledger technology license from the Gibraltar Financial Services Commission (GFSC), Currency.com is primely positioned to capitalize on the demand for alternative assets.
âOur Gibraltar license 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,â said Jonathan Squires, Currency.com CEO.
Seeds for Tokenized Shares
Currency.com launched in 2018 with the promise of tokenized indices, shares, commodities, and FX. More than 100,000 traders signed up for early access to the platform, which started in invite-only mode to accommodate demand.
Equities can be traded with leverage, while conventional crypto swaps are available on Currrency.comâs spot exchange.
Having obtained regulatory approval to operate by Belarus High Tech Park in 2018, Currency.comâs receipt of a Gibraltar license is arguably more significant still. The tiny British territory, which has a population of 34,000, is home to many companies that operate within the blockchain industry.
A willingness to support innovation and foster nascent technology, while maintaining regulatory oversight, has made Gibraltar a firm favorite with crypto startups.
Despite its tiny size, the Rock serves as a stepping stone for companies expanding their operations across Europe and further afield. Together with crypto-friendly jurisdictions like Malta and Zug in Switzerland, Gibraltar has shown that itâs possible to regulate the industry without stifling its spirit of creativity and experimentation.
Crypto Exchanges Ramp Up the Leverage and Liquidity
Currency.com promises leverage of up to 500x, although, in practice, this is limited to 20x for many markets, including shares and commodities. Itâs not the only crypto margin exchange to offer such high leverage but is one of the few ones where it is domiciled and regulated.
While many derivatives exchanges are registered in offshore jurisdictions with lax regulatory oversight, Belarus, where Currency.com is located is known for its stringent and proactive approach to crypto regulation.
The exchange maintains stringent AML and KYC requirements, which are likely to have aided its efforts to secure a Gibraltar license.
Enjoy reading? Please share:âOur 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 theyâve been looking for,â said CEO Jonathan Squires. In Gibraltar, where it has established an office, Currency.com has found a regulator it can work with and an island it can call home.
Telegram
The post Currency.com Tokenized Exchange Is Now Licensed In Gibraltar appeared first on CryptoPotato.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.