The board of Digital Asset Management (www.dam.gi) are proud to announce that DAM has been awarded authorisation as a Distributed Ledger Technology Provider by the Gibraltar Financial Services Commission (“GFSC”).
The Company’s authorisation as a DLT provider follows the Company’s year long application process with the GFSC to provide services to individual consumers, businesses and financial institutions with digital asset exchange, management and custody solutions.
Gibraltar’s DLT regulations set out nine regulatory principles designed to protect consumers and businesses utilising digital assets stored on distributed ledgers. These regulatory principles require authorised DLT providers to have effective controls and processes around protection of client assets, corporate governance, combating financial crime, systems and security controls and access and otherwise perform to standards of honesty and integrity.
DAM’s CEO, Sam Buxton commented: We are proud to be one of the first licensed and regulated digital asset custodians and broker dealers in the world. We’ve spent the last 14 months growing our client base, increasing our trading volumes, rolling out new products features and applying for a DLT license in Gibraltar, all while adhering to the highest standards of security, compliance and anti money laundering protocols. We are very excited about our road map for the next 12 to 24 months and I am personally very proud of the hard work and commitment my team continues to demonstrate.
Operating since 2017, the Company has over the past 14 months processed millions of pounds worth of digital assets through its exchange services and custody solutions for high net worth individuals and blockchain businesses.