[ad_1]
The Gibraltar Financial Services Commission (GFSC) has made an in-principle decision to issue a Distributed Ledger Technology licence to Quedex. This decision marks the final stage of the authorization process, as Quedex still needs to show the GFSC it can live up to the required conditions before obtaining the licence. The licence would make Quedex the first regulated crypto-centric futures and options exchange in the world.
Quedex offers its users the opportunity to trade in futures and options contracts on crypto assets on a fully-fledged, transparent and secure financial platform. It is the second exchange in the world to offer this, and with positive decision from the GFSC, the exchange could be on course to be the first ever regulated operation of its kind.
Quedex gives its client base, consisting of institutional investors, miners, hedgers and active traders the opportunity to hedge against cryptocurrency volatility. The current crypto-centric futures market sees a $4bn daily turnover and has been growing despite the bear market.
Now that an in-principle decision regarding the licence has been made Quedex is set to be the only company of its kind to be able to offer compliant services, potentially opening up enormous possibilities for institutional investors and other traders looking for a platform under proper supervision of a financial regulator.
A final DLT licence would mean submitting to the strict regulations outlined by the GFSC and injecting much needed transparency into a traditionally opaque industry.
Wiktor Gromniak, CEO and co-founder of Quedex said:
“The in-principle decision is a landmark moment for us. The licence that we are now well on our way to obtain will give customers additional protections that they can’t get anywhere else, for example around IT security, financial auditing processes and policies around effective corporate governance arrangements. It will help push crypto from unregulated grey areas into transparent environments and we are very proud to be pioneering this movement.”
Quedex is backed by committed investors with deep knowledge of the DLT economy. One of them is Wojtek Kostrzewa, former CEO of media holding ITI and former CEO of mBank among other high profile c-level roles, who currently serves as Quedex’ chairman parallel to his responsibilities as CEO of successful Blockchain startup Billon. He said:
“Quedex is that rare combination of the right idea, executed by the right people which is what investors are always looking for. Crypto futures exchanges are hot right now, just look at the recent 9 digit acquisition of CryptoFacilities by Kraken, or Nasdaq’s and ICE’s efforts to enter the arena. With the upcoming licensing Quedex has gained critical advantage and is well positioned to seize on the future.”
- Digix is launching DigixDao Platform, Joining Ranks of Pioneering Decentralised Autonomous Organisations in Singapore – March 28, 2019
- Quedex on Brink of Becoming World’s First Regulated Crypto-Centric Futures and Options Exchange, after in-principle Decision from GFSC – March 27, 2019
- Ugandan Orphanage able to Sustain Itself through Cryptocurrency Donations from Listeners of National Radio Show – March 26, 2019
- Blockchain-based Entertainment Platform ‘Blue Baikal’ opens Pre-Registration Event Connecting Producers, Influencers and Consumers – March 26, 2019
- French Crypto-Friendly Pacte Law Passes Second Reading in National Assembly, Senate Next – March 25, 2019
- Bamboo Capital Partners, Government of Togo and Moeda Seeds Bank Join to Launch the Bloc fund to Consolidate Social Development – March 25, 2019
- Western Union Joins Stellar Partner Thunes to Use Blockchain to Speed Up Transfers – March 25, 2019
- Dragonchain Announces Partnership with Humanitarian Organization M2030, Facilitating Donation Processes with Blockchain to Fight Malaria – March 21, 2019
- PUBLIQ Named Finalist by UK Parliamentary Group for Blockchain Application in Media Category – March 20, 2019
- FashionTV Leaps into the World of Blockchain by Partnering up with Decentralized E-commerce Platform WAAM – March 20, 2019
- Kudelski Security Announces Partnership with Hosho To Secure Blockchain Ecosystems – March 19, 2019
- Blockchain Goes Hollywood is Expected to Attract Blockchain and Crypto Experts, Investors and Celebrities to Epic multi-day Event – March 19, 2019
- Blockmason and Bitsonic Announce Token Generation Event for BLINK, Link’s Utility Token – March 15, 2019
- DX Exchange and Perlin Network Bring Tokenized Apple and Facebook Stocks to Empower a vast new Population of Retail Investors on the Blockchain – March 15, 2019
- Forte And Xpring create $100 Million Fund To stimulate Mainstream Use Of Blockchain In Games – March 13, 2019
- Private Jet Instant Booking Platform Announces Security Token Offering (STO) – March 12, 2019
- Samsung SDS is announcing its plans to innovate in various fields with Blockchain and Intelligent Process Automation – March 12, 2019
- The Fourth Global ICO / STO Report tells us ICOs are Growing Less, but Growing Up – March 11, 2019
- Zilliqa joins Student Organisation at King’s College London to Launch Blockchain A-Z Workshops – March 9, 2019
- Alfa-Bank and the Marco Polo Network join to Optimize Trade Finance with Blockchain technology – March 7, 2019
[ad_2]
Source link
