Institutional Crypto Lending Platform Receives Gibraltar DLT License

Must Read

Bitcoin Bull Rally Incoming? Market Price Keeping Below the Production Cost Ahead of Halving

Bitcoin is staying above its crucial level $9,000 for sometime now while experiencing some...

Trader shares the “Very Reason All Investors Should Hold some Bitcoin”

In 2020, the price of the leading asset had one of its worst one-day drops...

Bitcoin Sees an Influx of Retail Interest with Investors Doubling Down on HODLing

After tumbling down to below $6,500 yet again, Bitcoin went back above $7,000 in...
- Advertisement -BTCClicks.com Banner
Earn Free Bitcoin

Fully collateralized crypto-to-crypto lending platform Lendingblock has received a distributed ledger technology (DLT) provider license from Gibraltar Financial Services Commission (GFSC), reports Crowdfund Insider on Aug. 15. The accreditation brings the institution-focused platform one step closer to launch.

The GFSC awarded an in-principle DLT provider license in late 2018.

New capital lending model for digital assets

Providing collateralized lending and borrowing reportedly allows Lendingblock to support short-term trading, hedging and working capital needs. This mirrors traditional financial markets, which the company aims to reinvent with a better model to service the digital asset lending market.

To this end, it recently created the first Global Digital Assets Lending Agreement, hoping to establish a new benchmark and crypto industry standard.

Actively seeking regulatory approval

Gaining regulatory approval was an essential step for the company, involving a detailed and extensive process in collaboration with the GFSC. Lendingblock CEO Steve Swain explained the company’s regulatory philosophy:

“We always put the needs of its institutional clients front and centre, so it was important for us to take the proactive step in becoming a regulated entity.” 

Lendingblock continues to work with other global regulators to meet regulatory requirements in all jurisdictions in which it operates.

Gibraltar’s regulatory environment

Gibraltar has been making strides to encourage crypto and blockchain businesses to its shores, and a clear regulatory structure is part of that. Minister of Commerce, Albert Isola, said of the DLT provider license:

“It is 18 months since the DLT regulatory framework came into effect and we have seen a growing number of excellent companies and startups come to Gibraltar and work within this regulated framework.”

Earlier this month, Gibraltar awarded its first DLT license to a local cryptocurrency exchange.

- Advertisement -
- Advertisement -

Latest News

Wyoming Amends Insurance Code to Allow Insurance Companies to Invest in Bitcoin & other Cryptos

In the first provision of its kind, Wyoming is allowing the domestic insurers to invest...
- Advertisement -Earn Free Bitcoin

Its’ Finally Here A 100% Local Non-Custodial P2P Cryptocurrency Marketplace.

Finfreeotc is soon launching a one of a kind peer to peer cryptocurrency market place. Their marketplace is 100% non-custodial,...

WorldMarkets continues with the success of its trading artificial intelligence

Today we live in the information age, and access to information is unlimited. And that produces the paradox of misinformation. That's why...

MyTvchain.com Records Growth for The First Blockchain ​​Web Tv Platform Dedicated to Sport Clubs And Athletes

Sophia Antipolis (France) and Singapore: The first web TV platform dedicated to sports clubs and athletes opened in...

Crypto-Broker Instacoins Receives Operating License in Estonia

Instacoins Estonia OÜ, a cryptocurrency brokerage, is pleased to announce it has received an operating license from the Estonian Financial Intelligence Unit (FIU). The...