Why Fintech is choosing Gibraltar
Recognising the importance and value of companies using blockchain technology, Gibraltar has launched the world’s first bespoke business licence, the DLT Operator Licence, for Fintech firms utilising blockchain distributed ledger technology (DLT).
In a ground-breaking move, Gibraltar Financial Services Commission (GFSC) has formally recognised blockchain as a digital ledger of economic and financial transactions and from January 2018, launched their DLT Regulatory Framework as a purpose-built foundation for governing the cryptocurrency sector.
The rise of Blockchain, which first emerged as the architecture underpinning cryptocurrency Bitcoin, has encouraged great innovation here in Gibraltar with increasing incorporations of Fintech service companies. In response, the Gibraltar Stock Exchange has created a subsidiary, the Gibraltar Blockchain Exchange, the first cryptocurrency exchange backed by a government.
Fintech is choosing Gibraltar because it can also offer more to the start-up or developing Fintech company than licencing and regulation. Thanks to self-governing tax regime and the high concentration of thriving financial services corporations and experts, there is both fiscal and reputational benefits to those establishing their base here. In a jurisdiction that not only recognises but actively encourages Fintech, it is easier for companies to obtain a bank account to run the business, and gain legitimacy with their customers through connection to Gibraltar’s worldwide financial reputation.
We here at Knightsbridge Incorporations have a varied experience in incorporating companies utilising the blockchain innovation. We manage and guide these Fintech companies on the authorisation process, while making the company incorporation and tax registration process simple. We are always available and welcome applications from those seeking to benefit from Gibraltar’s forward-thinking legislation. Based in the World Trade Centre, we are situated in the hub of Fintech innovation.
For further information on the GFSC and Fintech, please visit: http://www.gfsc.gi/dlt
Knightsbridge Incorporations Limited is licensed by the Financial Services Commission in Gibraltar under licence number: FSC24049