Gibraltar Financial Services Commission Grants First Crypto Derivatives License to Local Exchange
Cryptoinformers || AUGUST 1, 2019
Gibraltar Financial Services Commission has issued license to crypto derivatives exchange, Quedex.
Quedex was granted a Distributed Ledger Technology (DLT) Providers licence for providing services of trading crypto derivatives such as Bitcoin (BTC) futures, as well as crypto custodial services, which the release claimed that it is "the first regulated entity of its kind globally."
It isreportedthat Quedex has been in the process for over a year before they finally secure the license, advised by PRT Lawyers, who worked together with the Gibraltar authorities in order to meet all the required conditions.
The press release states that: "Quedex offers its users, consisting of institutional investors, miners, hedgers and active traders, the opportunity to trade in futures and options contracts on crypto assets on a fully-fledged, transparent and secure financial platform."
CEO and co-founder of Quedex, Wiktor Gromniak said: the lincense will help in bringing mor institutional investors into the cryptocurrency industry, believing that it will make it easier to create transparent financial markets and develop complex products such as futures and options.
The Gibraltar’s Minister for Commerce, Albert Isola expressed support for Quedex approval. Adding that DLT licensed firms will help further develop crypto into a “maturing and sustainable industry and demonstrate that Gibraltar is leading the way in this industry.”