XBTO International, more commonly referred to as XBTOI, has now successfully received legal status in Bermuda. The global cryptocurrency finance company, XBTOI, has been granted a license by the BMA (Bermuda Monetary Authority) under the 2018 Digital Asset Business Act of the island, as per the reports. It is worth mentioning that XBTOI is only the third company to have received a license of such kind from the Bermuda regulator.
An honor to be granted our Digital Asset Business License by the @BermudaMonetary. We look forward to helping create a strong #digital #asset industry in #Bermuda. https://t.co/OBT209CDMV #crypto #stablecoins @BermudaPremier pic.twitter.com/lap2ReZOZs
— XBTO Group (@xbtogroup) July 29, 2019
Crypto enthusiasts are already aware of XBTOI’s multiple offerings, which include over the counter (OTC) desk trading, asset management, consulting, as well as VC work. As per the reports, the company intends to make the most of the licensing by rolling out newer products concerning digital assets solutions. The company also added that it wants to offer solutions that aren’t available elsewhere.
The firm’s COO, Julien Auchecorne, commented that it’s an important development for their business on the island and around the international trading landscape. Auchecorne also revealed that they are involved in multiple thrilling projects and proud to be able to demonstrate Bermuda’s budding status as the prominent offshore hub for digital assets. Continuing further, he said that their local commitment goes above their office presence as well as working ties with the island’s service providers.
Further Auchecorne added,
We presently have the mandate to expand our office following our license obtention and remain committed to collaborating with all Bermudian stakeholders to explore how we can educate the island on the Digital Assets industry.
The company was established in the year 2015. Apart from Bermuda, it has offices in New York and Paris.