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.“Our Gibraltar license is an important endorsement for the platform and further confirms our adherence to the most stringent standards, providing the highest level of
Topics:
Danish Yasin considers the following as important: Projects
This could be interesting, too:
Jordan Hristov writes Some Traders Back Slothana to Be the Next Bonk After Raising Over M
Felix Mollen writes Cat Meme Coins Trend as cat in a dogs world, Book of Meow Pump – Will This Token Surge Next?
Felix Mollen writes New VR Gaming Token 5th Scape Surges Past M in Presale
Jordan Hristov writes Dogecoin Breaks Past %related_posts%.2 – Is %related_posts%.3 Incoming as Dogecoin20 ICO Also Surges?
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.
“Our 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,” 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.com’s spot exchange.
Having obtained regulatory approval to operate by Belarus High Tech Park in 2018, Currency.com’s 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 it’s 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. It’s 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.
“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,” 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.