XBTO, an active global crypto investor, has been granted a license by the Bermuda Monetary Authority under the Digital Asset Business Act.
The license has been granted to XBTO International (XBTOI), which is owned by XBTO Group and is only the third firm to be granted this type of license in Bermuda.
Present in Bermuda since January 2018, XBTOI says that this license will allow it to roll-out a variety of new digital asset solutions.
“This is a significant development for our business in Bermuda and across the global trading landscape,” says Julien Auchecorne, COO. “We are engaged in many exciting projects and are proud to showcase Bermuda’s growing status as a leading offshore digital asset hub. Our local commitment extends beyond our own office presence and working relationships with service providers on the island. We presently have a mandate to expand our office following our license obtention and remain committed to collaborating with all Bermudian stakeholders to explore how we can educate the island on the digital assets industry.”
“I am exceptionally pleased that XBTO International has been granted a Digital Asset Business License by the Bermuda Monetary Authority. XBTO represents a company with solid financial services pedigree that has seen the opportunity and potential offered by the digitisation of finance. XBTO was one of the earliest fintech companies to choose Bermuda as its domicile for its international operations and has been a welcomed proponent and evangelist for the regulatory clarity that Bermuda has developed with our regulatory framework,” says Bermuda’s Premier, David Burt.