First Digital Assets Group Awarded DLT Licence by Gibraltar Financial Services Commission
Gibraltar – 1st March 2019- 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.
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.