CEX.IO, the Gibraltar-based multi-functional cryptocurrency exchange, has recently received it's DLT Provider's Licence. The licence was granted in full on Thursday 4th July by the Gibraltar Financial Services Commission (GFSC).

The company was advised throughout this process by Hassans, led by Partner and Co – Head of Hassans' FinTech team, Anthony Provasoli and assisted by Roy Balestrino. Others within the firm, meanwhile, including Isabella Lugaro and Natasha Pizzarello, assisted with additional matters such as registering the company as employers with the Department of Employment and with the Tax Office and obtaining a work permit for their Money Laundering Reporting Officer.

Oleksandr Lutskevych, CEO of CEX.IO: "Although CEX.IO has reached the highest level of improvement of its service standards and procedures, our path towards the DLT licensing would have been more complicated without such a professional team as Hassans. Our cooperation proved that experience and appropriate assistance are extremely important if a cryptocurrency business aims to build sustainable relations with regulators".

Established in 2013, CEX.IO boasts over 2.7 million users globally and offers a full spectrum of cryptocurrency trading tools suitable for beginners, pros and everyone in between for a broad range of cryptocurrencies including Bitcoin, Ethereum, Dash, Ripple and Litecoin. CEX.IO were attracted to the Blockchain Rock on hearing about Gibraltar's DLT Regulations, which came into effect in January 2018. Hassans assisted CEX.IO throughout the entire process, providing guidance and assistance to ensure they met the GFSC's criteria. The entire application process is specifically formulated to ensure that only the most highly proficient and reputable DLT firms, operating according to best practices and with all appropriate policies in place, can expect to receive a DLT Provider's Licence in Gibraltar.

CEX.IO now joins other Hassans FinTech clients such as Covesting, First Group and eToro who have also received DLT Provider's Licences in Gibraltar.

"Our mission is to provide customers with guidance into the world of an open financial system, which inevitably stimulates us to maintain the highest reliability and security levels of our platform. Obtaining the DLT license from the Gibraltar Financial Services Commission (GFSC) is a clear illustration that CEX.IO meets and, in some cases, even exceeds the recognized compliance requirements and procedures to become one of the best guides to the crypto economy for the customers" – said Oleksandr Lutskevych.

Hassans' Partner and Co-Head of the FinTech team, Anthony Provasoli, who led the initiative congratulated CEX.IO, "it was an absolute pleasure to have worked with the amazing team at CEX.IO," it is a fantastic result for the company and also for the jurisdiction, demonstrating, once again, why tiny Gibraltar is nonetheless a heavyweight in the blockchain industry."