This week, Gibraltar-licensed Digital Asset Management Ltd (DAM) announced it had become the first ever Gibraltar company to raise capital on Crowdcube, the investment crowdfunding platform, as part of its Pre-Series A investment round.
DAM was established in 2017 to effectively assist in buying, managing, sending and storing cryptocurrencies and tokens in a regulated environment. The firm is one of 12 DLT licensed and regulated companies in Gibraltar that benefit from the regulatory certainty offered by the DLT regulatory framework. DAM is licensed and regulated to offer crypto OTC (Over-The-Counter) brokerage and custodial services by the GFSC. DAM is also registered with the Financial Conduct Authority (FCA) in the UK as an EMI (Electronic Money Institution) agency company under Modulr Finance Ltd.
In January 2018, Gibraltar became the very first jurisdiction across the globe to introduce legislation around Distributed-Ledger-Technology (DLT), and has since asserted its position as a leading blockchain and cryptocurrency hub.
Commenting on the announcement, the Hon Albert Isola, Minister for Digital and Financial Services, said, “I would like to congratulate Digital Asset Management on the innovative nature they have displayed by reaching this notable milestone. In Gibraltar, we believe innovation and collaboration go hand in hand. DAM’s move to become the first ever Gibraltar-licensed company to raise capital on Crowdcube is representative of this spirit of innovation. I congratulate them on this remarkable achievement which will act as an example to other pioneering Gibraltar start up businesses that access to capital through crowdfunding platforms may also be available to them.”
With Gibraltar’s core values of regulation, reputation, and speed to market at the foundation of its efforts within the blockchain industry, Gibraltar is globally renowned for its commitment to creating a sustainable and secure regulatory framework for blockchain, as well as being one of the leading proponents in the advancement of the technology.
Commenting on the announcement, DAM’s CEO, Sam Buxton, said, ‘‘Our first four years have been a successful grind and we are now well positioned for the next four years to be game changing for the company. We would like to thank Gibraltar and the GFSC for their continued support, and look forward to further establishing our collaborative relationship with them in the future.”