iFinex began operations in 2012 and, among other cryptocurrency and cryptoasset-related products and services, operates Bitfinex, one of the world’s largest virtual currency trading platforms. The LEO tokens were issued by a newly formed BVI subsidiary of iFinex, Unus Sed Leo Limited, and are intended to be utility tokens at the heart of the iFinex ecosystem.

The Appleby team was led by BVI partner Andrew Jowett with assistance from Peter Colegate, counsel in Appleby’s Cayman office, and Rebecca Jack, senior associate in Appleby’s BVI office. Appleby advised iFinex alongside US counsel, Steptoe & Johnson LLP.

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