Appleby provided Bermuda law advice to Coinzoom, Inc. on the legal and regulatory requirements to carry on digital asset business in Bermuda.

CoinZoom, Inc. is a U.S. based cryptocurrency exchange offering services in buying, selling, spending and sending crypto. They are a Registered Money Services Business in all 50 states and territories, and a Money Transmitter in numerous states. CoinZoom is also registered as a Digital Currency Exchange in Australia. In partnership with Visa, CoinZoom offers a Visa debit card allowing customers to spend their crypto at over 53m merchants worldwide and earn up to five percent back on each purchase. The exchange also recently became the Official Cryptocurrency platform and NFT Marketplace for the Utah Jazz – as the exclusive provider, all of the NFTs issued by the Utah Jazz are listed on CoinZoom’s NFT marketplace.

Jerome Wilson, Partner and Head of Appleby’s Technology & Innovation practice in Bermuda, led the transaction with support from Sally Penrose, Partner and Head of Appleby’s Regulatory practice in Bermuda, along with Associates Carl Meyer and Ashley Bento, Specialist Compliance Advisor Jarion Richardson and Legal Trainee Karim Creary.

Jerome said, “It was a pleasure to work with the dynamic and innovative CoinZoom team on their DABA license. We look forward to working with them on many of their future plans. CoinZoom’s attraction to Bermuda further highlights the Island’s strength as a leading jurisdiction in the Digital Asset Business industry.”

Share
Twitter LinkedIn Email Save as PDF
More Deals
24 May 2023 | Deals

Appleby Bermuda advise Arbol on the launch of its collateralized insurer, Arbol Re Ltd.

Appleby advised Arbol, a technology-led underwriter of parametric risk transfer, climate and weather...

17 Mar 2023 | Deals

Appleby Bermuda advised Swiss Re on its USD 700 million multi-year stop-loss transaction

Appleby acted as Bermuda counsel for global reinsurer Swiss Re on its securing a multi-year stop-los...

24 Jan 2023 | Deals

Appleby advises Wejo Group Limited on its entry into a business combination with TKB Critical Technologies I

Appleby is acting as Bermuda and Cayman Islands counsel to Nasdaq-listed Wejo Group Limited, a globa...

16 Jan 2023 | Deals

Appleby Bermuda advised on Kuvare Holdings Launch of USD 400 Million Kindley Re Sidecar

Appleby advised Kuvare Holdings (Kuvare) on its formation of Kindley Re Ltd. (Kindley Re), a newly f...

8 Dec 2022 | Deals

Appleby Bermuda advised African Risk Capacity Ltd on its first epidemic risk insurance product

Appleby Bermuda advised ARC Ltd, a long-standing client, on its first parametric insurance product a...

26 Sep 2022 | Deals

Appleby Supports Northedge Investment into Friend MTS, a Leading Global Provider of Video Content Security Services

Appleby is proud to have acted as Jersey and Bermuda counsel, alongside Gateley PLC, to private equ...

11 May 2022 | Deals

Appleby Bermuda Advised Relm II In Its Incorporation And Registration To Provide Reinsurance Capacity In The Crypto Space

Appleby served as Bermuda counsel to Relm Insurance II Ltd. (Relm II) in connection with its incorpo...

5 May 2022 | Deals

SkyRidge Re team wins ‘Life Transaction of the Year’ at the Trading Risk Awards 2022

Congratulations to the SkyRidge Re team for winning ‘Life Transaction of the Year’ at the Tradin...

19 Apr 2022 | Deals

Appleby Bermuda Advised Swiss Re In Innovative USD1.15bn Transaction Combining Bank Financing And Insurance-Linked Securities

Appleby acted as Bermuda counsel to Swiss Re, a leading wholesale provider of reinsurance, insurance...

4 Mar 2022 | Deals

Appleby Bermuda advised S&P Global in its USD 140 billion merger with IHS Markit

Appleby acted as Bermuda counsel to S&P Global, the world's foremost provider of credit ratings,...