The Government of Gibraltar has today announced that The Gibraltar Financial Services Commission (GFSC) has awarded a full Distributed Ledger Technology (DLT) licence to First Digital Assets Group. Having completed a rigorous application process and demonstrated strict adherence to the nine core principles underpinning Gibraltar’s DLT regulatory framework, First can now store and transmit value belonging to others using blockchain technology.
This is a welcome continuation of licence issuance following introduction of world’s first DLT regulatory framework. Gibraltar’s Minister for Commerce, The Hon Albert Isola MP, said, “There is a real vibrancy emanating from Gibraltar’s growing blockchain ecosystem. I’m pleased to announce that First have been awarded a full DLT licence, which recognises their full compliance with Gibraltar’s landmark DLT regulation. The goal of the team at First to improve the accessibility of blockchain infrastructure is directly aligned with Gibraltar’s mission to accelerate the development of the global blockchain space.”
First, which operates under Eppur Group Limited, creates the building blocks for blockchain applications, from liquidity to safe storage. First facilitates companies and developers build Digital Assets based solutions. First’s development platform provides access to Blockchain features, while ensuring military grade security layers and adherence to regulatory and compliance requirements.
Ran Goldi, Founder and CEO of First Digital Assets Group said. “First is happy and proud to receive the DLT license, which will allow us to better serve our clients, providing them with the regulatory framework in the evolving digital asset economy space.”
Introduced in January 2018, Gibraltar’s DLT legislation is the world’s first purpose-built regulatory framework for businesses using blockchain or DLT. Built on a core set of nine principles, the framework has been informed by an open dialogue between regulators and industry figures, establishing adequate levels of flexibility for projects to thrive.
“As the first jurisdiction in the world to introduce a purpose-built Distributed Ledger Technology (DLT) framework, we have set a high bar for prospective DLT providers. We are committed to upholding the highest standards in our expanding blockchain ecosystem, and remain deeply committed to our principles-based approach to DLT regulation. I look forward to seeing the First project progress in the months ahead,” concluded Minister Isola.
A British Overseas Territory, Gibraltar is a self-governing and self-financing democracy that has established itself globally as a reliable centre for the blockchain and digital assets industry. In January 2018, Gibraltar became the very first jurisdiction globally to introduce legislation around Distributed-Ledger-Technology (DLT), and has since asserted its position as a leading blockchain and cryptocurrency hub. With Gibraltar’s core values of regulation, reputation and speed to market at the foundation of its efforts within the blockchain industry, Gibraltar is now globally renowned for its commitment to creating a sustainable and secure regulatory framework for blockchain, as well as being one of the leading proponents in the advancement of the technology.
