Gibraltar was the first jurisdiction worldwide to introduced legislation for Distributed Ledger Technology (DLT) businesses that hold or transfer value belonging to third parties using Blockchain technology. These regulations came into force on 1st January 2018.
Since the announcement of the DLT regulations in October 2017 there has been an enormous interest from FinTech businesses wanting to establish operations in Gibraltar and initial licences were granted in August 2018.
As a global hub for FinTech, a number of Insurtechs have been established in Gibraltar and one used Gibraltar as the domicile for its token sale in 2017. Not only has Gibraltar’s appeal to Insurtech companies soared with the introduction of the DLT Regulations of 2018, with the development of tokenised securities, Gibraltar can continue to support fund raising by Insurtechs.
Finally, the Mediterranean climate, lifestyle and sporting opportunities add to the overall attractiveness of Gibraltar to many developers and technology workers in FinTech and Insurtech.