Mobile-focused investment platform B21 has been granted an in- principle Distributed Ledger Technology (DLT) License from the Gibraltar Financial Services Commissioner (GFSC).
B21 is a FinTech company and the developer of the personal wealth management platform exclusively for crypto assets. The company’s platform enables everyday investors to create their own portfolio of cryptocurrencies.
With the Gibraltar DLT License, B21 is set to become the first regulated cryptocurrency investment app. The app, which will be available in Europe and Asia at launch in Q4 of this year, with plans to enter the US market in 2020, will offer the top tradeable cryptocurrencies, including bitcoin, Ethereum, EOS and many others.
“Developed for the vast majority of consumers not yet participating in the cryptocurrency economy, the B21 app makes it easy to create a buy-and-sell portfolio without technical expertise,” B21 said. “B21 utilizes multiple liquidity providers to ensure optimal trade execution, and offers the fastest way to buy or sell multiple crypto assets in a single order. The app also allows users to purchase cash vouchers in local currencies to fund their B21 account.”
According to B21, the company underwent rigorous due diligence to earn its DLT license and joins a select few cryptocurrency firms to achieve the distinction.
“While crypto investing is still in its early days, what’s become quite clear is consumer demand for platforms that help them easily purchase and manage their digital assets in a safe, legal, and compliant manner,” said Miles Paschini, Co-Founder of B21. “We welcome the scrutiny and increased regulation of the sector. By obtaining our DLT license and becoming the only regulated crypto investment app, we’re demonstrating our commitment to users and supporting widespread crypto adoption.”
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