BlockFi cryptocurrency company is licensed by Bermuda

This will allow it to significantly expand its activities and enter markets in new regions as soon as possible

26.01.2022 - 07:10

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1 min

What’s new? BlockFi, a cryptocurrency lending platform, has announced on its official website that it has received a license to operate as a digital asset financial services provider. The work permit was issued by the local regulator, the Bermuda Monetary Authority.

News source on the BlockFi website

What is the purpose of the license? A press release cited the opportunity to “centralize its existing products and services for non-US retail and institutional clients” as the main benefit of the license. The company has not yet announced the introduction or launch of any new services.

What are the platform’s future plans? BlockFi stated that the digital asset financial license will allow the crypto lending company to enter the global market and expand its geographical reach to other continents and countries. To that end, it has opened a new office in the islands and has begun recruiting specialists, which will include Bermudian nationals.

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