Gibraltar’s DLT Framework Is Considered “Key to Achieving Regulatory Cer tainty” For Gibraltar Licensed BITSO As the Firm Raises US$255m

Gibraltar’s DLT Framework Is Considered “Key to Achieving Regulatory Cer tainty” For Gibraltar Licensed BITSO As the Firm Raises US$255m 

Investorsin the round include Tiger Global, Coatue, Paradigm, BOND, Valor Capital Group,QED, Pantera  Capital, and Kaszek. 

Gibraltar – 12 May 2021 – H.M Government of Gibraltar welcomes the news that BITSO, a lead ing Gibraltar licensed and regulated firm, has raised a $255 million Series Cequity round ledby TigerGlobal andCoatuewhich, reports suggest,provides them witha US$2.2billionvaluation. 

In 2019, BITSO obtained a full DLT license from the Gibraltar Financial Services Commission fol lowing the establishment of the DLT Legal framework which was introduced in January 2018. Gi braltar’s DLT legislation is the world’s first purpose-built regulatory framework for businesses us ing DLT to store or transfer value belonging to others. 

TheHonAlbertIsola, Minister for Digital and Financial Services said,“My sincere congratulationsto  our friends at BITSO for their continuing success. We are committed to providing an efficient, safe, and innovative regulatory framework for companies to be licensed and supervised here. As we continue to see the industry and companies like BITSO mature and push global boundaries, Gi braltar remains dedicated to creating an open dialogue between regulators and industry figuresto  promote this innovative business in a safe and regulated environment. As Gibraltar firms continue  to grow internationally, we welcome their commitment to meeting these standards and demon strating the effectiveness of our framework in the global marketplace.” 

Daniel Vogel, CEO of BITSO commented,"The GFSC and the DLT Providers Regulatory frame work have allowed us to continue innovating, expanding and advocating for everybody in Latam to  access this technology. It has been more than two years since we started planning ourinterna tional expansion plans—obtaining our DLT license was an essential step on our way to expanding across the Region. Trustis paramountto make crypto useful and for our customers touse BITSO in  their everyday life. The GFSC helps us establish that trust. This capital will enableus to expand our  current capabilities, our product offering and continue making crypto useful across Latin Amer ica." 

BITSO's upcoming product offeringwill be focused on better serving the needs of consumersand businesses across Latin America by making crypto useful. New products are in development as  

BITSO continues to build next generation borderless financial services for consumers and busi nesses alike. 

Having updated its DLT regulatory framework in late 2020, the Government of Gibraltar recently announced the establishment of a new working group that will be responsible for defining the ap propriate market standards for VASP’s operating in the digital asset space. 

Minister for Digital and Financial Services, The Hon Albert Isola MP, is available for interview. 

Media Contact: 

Eleanor McGovern – Consultant 

Wachsman 

E: gibfin@wachsman.com 

P: +353 87 933 7769 

About Gibraltar 

A British Overseas Territory, Gibraltar is a self-governing and self-financing democracy that has established itself globally as a reliable centre for the blockchain and digital assets industry. In Jan uary 2018, Gibraltar became the very first jurisdiction globally to introduce legislation around Distributed-Ledger-Technology (DLT) and has since asserted its position as a leading blockchain and virtual assets hub.With Gibraltar’s core values of regulation, reputation, and speed to market at the foundation of its efforts within the blockchain industry, Gibraltar is now globally renowned for its commitmentto creating a sustainable and secure regulatory framework for DLT, as well as being one ofthe leading proponents in the advancement ofthe technology. For more information, please visit http://www.gibraltarfinance.gi/en/home 

About BITSO 

BITSO is a leading Latin American crypto first platform with a community of over 2 million users. Thecompany offers three main products: the BITSO App for new or experienced cryptocurrency users tobuy, sell, send, or receive crypto in a simple and intuitive way; BITSO Alpha, a profes sional-grade crypto trading platform; and BITSO Business, a suite of cross-border products that enablesbusinessesto thrive in a global digital economy.BITSOis one ofthe few crypto exchanges, and the only one in Latin America, to obtain a Distributed Ledger Technology (DLT) license from the Gibraltar Financial Services Commission (GFSC), a sovereign agency which has developed one of the most advanced frameworks for regulating cryptocurrency trading. BITSO is also the first and only exchange in LatinAmerica to insure its users’funds. Founded in 2014,with over 300 employees across 25 different countries, BITSO is working to make crypto useful by liberating the world from traditional financial players and redefining money. 

To learn more about BITSO, visit bitso.com.

Aboutthe Hon Albert Isola MP 

The Honourable Albert Isola MP is Gibraltar’s Minister for Digital and Financial Services with the primary responsibility of raising Gibraltar’s profile as an established onshore, mainstream, well regulated financial services centre. He has specific responsibility for financial services, digital technology innovation, and online gaming. 

Working closely with the financial services regulator, the Financial Services Commission, he is re sponsible for financial services policy, product development, and responding to international initi atives such as international tax compliance. Minister Isola played a leading role in the establish ment oftheGibraltar InternationalBank, a firstforGibraltar as a home-grown full-servicecredit institution. 

Minister Isola previously served as Gibraltar’s Minister for Commerce where he played a central role in driving the creation of the world’s first purpose-built DLT regulatory framework, which be came law in January 2018, for firms using blockchain to store or transfer value belonging to oth ers. 

For more information, please visit http://www.gibraltarfinance.gi/en/home