Fintech company Bitfrost has been registered as a virtual assets service provider (VASP) with the Gibraltar Financial Services Commission (GFSC).
With the new registration, Bitfrost can now provide clients with access to fiat-to-crypto, crypto-to-fiat and crypto-to-crypto over-the-counter transactions worldwide.
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 initiative will be led by newly appointed head of compliance, Eva Lorenzo.
Commenting on the licence, Lorenzo says: “By complying with the high standards of the GFSC, we are demonstrating our willingness to go above and beyond, to be on the front foot of crypto compliance. We hope that this will provide all our clients with greater comfort when entering or expanding into the market.”
Anton Chashchin, managing partner of Bitfrost, comments: “Gibraltar is increasingly looking at how it can facilitate a financial ecosystem that is robustly regulated while leaving sufficient breathing room for innovation. This is well-aligned with Bitfrost’s own objectives, striving to provide customers with the widest, most market-forward range of financial services possible while ensuring maximum protections.”
