Our Bermuda team is delighted to have acted for DerivaDex Bermuda Ltd., a Bermuda company which is owned by the DerivaDAO Foundation, which has recently launched its institutional decentralised derivatives trading platform focused on institutional users. This follows the successful decentralised governance proposal to go live being approved via the DAO in January.
The company has received a Class T licence to conduct digital assets business in Bermuda from the Bermuda Monetary Authority (BMA) under the innovative Digital Asset Business Act, 2018. This marks an important milestone and demonstrates the continuing commitment of the BMA towards effective supervision of decentralised frameworks.
We commend Aditya Palepu, the co-founder and CEO (helping build DerivaDex), and the whole team, on this remarkable, first of its kind, achievement and we wish the team every success in building and scaling the platform going forward. It was a pleasure to have assisted and to have worked with Julie Haghiri and Jamie Roberts and the stellar team at MainNet Partners, the Web3 specialist solutions arm of Leeward Management.
Our team comprised partners Natalie Neto and Leonie Tear, and associate Aariyen Murray.