Hybrid cryptocurrency exchange GRVT (pronounced “gravity”), which aims to become the “Goldman Sachs on blockchain”, is thrilled to announce its groundbreaking achievement as the first DEX to secure regulatory approval, having obtained the Class M Digital Asset Business License from the Bermuda Monetary Authority (BMA).
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This milestone positions GRVT as the world’s first regulated DEX, setting a new global standard for decentralized finance and marking a pivotal moment in the industry’s evolution toward a more regulated and compliant approach – paving the way for mainstream and wider institutional adoption of DeFi.
GRVT has received class M “modified” digital asset derivative exchange provider license under Bermuda Digital Asset Business Act (“DABA”) and will work with the BMA to satisfy the pre-operational conditions before formally launching and serving selected corporate customers. Further, in the coming months, the platform will be working towards upgrading to the Full Class license under the DABA, aiming to launch its global institutional-grade perps DEX in the jurisdiction.
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As the DeFi sector evolves, securing institutional and mainstream trust still remains a critical challenge. Without clear regulatory frameworks, many traditional financial institutions remain hesitant to engage with decentralized platforms, fearing risks related to compliance, security, and consumer protection. Regulatory approval is key to bridging this trust gap. By aligning innovation with legal oversight, DeFi platforms can offer the transparency and accountability that institutions require, helping to foster widespread adoption and drive the entire industry toward sustainable growth.
Hong Yea said, “Bermuda is a pioneer in structuring and providing regulatory guidance for the digital asset market. Securing the license from the BMA reinforces our commitment to bridging decentralized finance and regulatory compliance. We’ve always believed compliance should be the foundation for crypto and DeFi, not an afterthought. Without it, earning institutional trust—and bringing revolutionary technologies to the mainstream—becomes nearly impossible.”
The Honorable E. David Burt commented, “Bermuda is proud to be a leader in providing regulatory clarity to the digital finance sector. We are happy to see decentralized finance businesses like GVRT utilizing our digital asset regulations and congratulate them on successfully completing our licensing process.
The issuance of the first DABA license for a decentralized exchange demonstrates the willingness of our regulator, the Bermuda Monetary Authority, to engage with the most innovative technologies and businesses in the digital finance sector. We look forward to more decentralized finance businesses choosing Bermuda as we continue to provide the regulatory clarity needed for the digital finance sector to continue to grow.”
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GRVT is continuing its pursuit of a Full Class F license in Bermuda, demonstrating its dedication to comprehensive regulatory compliance and its readiness to offer a broad spectrum of digital asset services within Bermuda’s robust regulatory framework.
Simultaneously, GRVT is actively engaging with regulatory authorities in multiple jurisdictions to advance its licensing efforts. These initiatives include aligning with the Markets in Crypto-Assets (MiCA) framework in the European Union and collaborating with the Abu Dhabi Global Market (ADGM), a leading financial center known for its innovative approach to digital asset regulation.
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Source – prnewswire
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