Lendingblock receives DLT license from the GFSC 15 August 2019Saint Peter Port Reporter: Jenna Lomax
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Lendingblock has received its full license as a distributed ledger technology (DLT) provider from the Gibraltar Financial Services Commission (GFSC), supported by blockchain law firm, ISOLAS.
The new license comes as Lendingblock prepares the launch of its new lending exchange.
Lendingblock received the license after it complied with the nine principles set out by the GFSC.
The principles are designed to ensure that regulated businesses meet and maintain high standards, including risk management, corporate governance, customer care, security, and prevention of crime.
Steve Swain, CEO of Lendingblock, said: "Over the past 18 months, Lendingblock has set out on a journey to reinvent the traditional capital markets securities lending model by building something better that meets client needs through the digital asset lending market.”
He added: “Building a safe, secure and transparent digital asset lending exchange and healthy marketplace for clients has been our goal, and this included undergoing a detailed and extensive process to ensure regulatory outcomes were achieved with our regulator the GFSC.”
“We are looking forward to bringing this platform to market to support our clients borrowing and lending needs and are grateful for the assistance that ISOLAS has provided us in reaching this point."
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