Appleby assists global crypto investor XBTO on acquiring their Digital Asset Business Licence in Bermuda
Appleby acted as XBTO’s Bermuda counsel on their application for a Digital Asset Business Licence as a Digital Asset Service Vendor (Market maker for digital assets). This license allows XBTO to provide market maker services for digital assets in and from within Bermuda and are now regulated by the Bermuda Monetary Authority (BMA) under the Digital Asset Business Regulations. Appleby advised on and prepared documentation for XBTO’s license, which is one of only 3 DABA licenses issued to date in Bermuda under the new FinTech regime.
XBTO International Ltd. (Bermuda) (“XBTOI“) is a licensee of XBTO Group, one of the most active global crypto investors. XBTOI is a leading digital asset provider offering best-in-class market making products through superior proprietary technology and connectivity. “This is a significant development for our business in Bermuda and across the global trading landscape,” said Julien Auchecorne, Chief Operating Officer of XBTOI. “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 congratulate Julien and the team at XBTOI on this well-deserved achievement. The receipt of a Digital Asset Business License from the BMA is testament to the standards by which XBTOI operates globally and sets them apart from others in this highly competitive sector.”
