Gibraltar Grants First Crypto Derivatives License to Local Exchange

Gibraltar-based crypto derivatives exchange Quedex has secured a license from the Gibraltar Financial Services Commission (GFSC).

Quedex claims to be the world’s first regulated crypto futures and options exchange

Quedex was granted a Distributed Ledger Technology (DLT) Providers licence for providing services of trading crypto derivatives such as Bitcoin (BTC) futures, as well as crypto custodial services, the firm said in a blog post on July 31.

Following the license acquisition, Quedex reportedly became the world’s first regulated crypto futures and options exchange, the firm stressed in the announcement. In order to secure the DLT license, Quedex worked with Gibraltar authorities for 15 months to ensure the company meets all the regulatory requirements and conditions, the blog post notes.

Bitcoin-based derivatives trading is live

The exchange targets a wide array of customers, including institutional investors, as well as miners, hedgers and traders. According to the information in the press release, Quedex supports Bitcoin-based derivatives trading so far, while the company plans to introduce several altcoins in the near future.

Wiktor Gromniak, CEO and co-founder of Quedex, said that the DLT license is expected to help bring more institutional investors to the crypto industry. He says this will make it easier  to create transparent financial markets and develop complex products such as futures and options.

Gibraltar’s Minister for Commerce Albert Isola expressed support for Quedex approval. He notes that DLT licensed firms will help further develop crypto into a “maturing and sustainable industry and demonstrate that Gibraltar is leading the way in this industry.”

Recently, Cointelegraph reported on the GFSC granting another DLT license to Mexican cryptocurrency exchange Bitso, with the company reportedly becoming the first regulated exchange of its kind in Latin America.