Lendingblock, a securities lending platform for digital assets, reports that Gibraltar Financial Services Commission (GFSC) has made an in-principle decision to grant the firm authorisation as a distributed ledger technology provider.
Steve Swain, CEO and Co-founder of Lendingblock, comments: “As a true believer in the importance of getting our industry into regulatory shape, seeking authorisation from a leading regulator was always a priority for us. The GFSC has developed one of the most advanced DLT regulatory frameworks in the world and this in-principle decision is a tremendous achievement.”
The venture has been testing its platform with over 30 institutions and says that it is on track to launch the world’s first institutional digital assets lending exchange as a fully regulated DLT provider early in the new year. Market participants are now able to sign up for access and will be able to commence borrowing and lending BTC, ETC, BCH and LTC across various maturities from 2019.
“Securities lending is an important aspect of most traditional market participants’ return generating strategy and we see it as a particularly relevant to the crypto economy. Our technology and collaborative work with regulators and partners has enabled us to create the market and financial infrastructure needed to meet the demand for trading digital assets on an institutional level,” adds Swain.