Bitfrost, a fintech ecosystem that supports financial institutions in their adoption and management of digital assets, has secured registration as a Virtual Assets Service Provider (VASP) with the Gibraltar Financial Services Commission (GFSC).
Bitfrost can now provide clients with access to fiat-to-crypto, crypto-to-fiat and crypto-to-crypto OTC transactions worldwide. This registration is the first step of Bitfrost’s phased plan to become a fully regulated Distributed Ledger Technology (DLT) Financial Services Provider in Gibraltar – a region whose DLT regulatory framework is considered one of the most robust in the world.
The move comes as part of a wider licensing expansion campaign by Bitfrost, with a focus on Gibraltar, Switzerland, Cyprus, Hong Kong and the UK. The push will be led by newly appointed Head of Compliance, Eva Lorenzo, who brings with her a decade of experience in banking and crypto compliance. Lorenzo’s role is to provide maximum confidence to clients and partners in a sector renowned for placing significant importance on regulation.