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Details: ht
GRVT Hits Big with Bermuda Regulatory Green Light 🚀
GRVT just landed the Class F Digital Asset Business License from Bermuda Monetary Authority. Pretty major win in the crypto world 🔥
They nailed this milestone way ahead of schedule – their target was mid-2025. It's kind of surprising how quickly they moved. GRVT now stands among the rare breed of fully regulated hybrid exchanges globally. They've upgraded from their starter Class M license to the full Class F status. Better playground now.
Hong Yea, their co-founder and CEO, put it this way: "We're meshing cryptocurrency and mainstream finance together. Assets flow freely here." His vision? "A space where all value forms just... coexist." 💫
Wasn't an overnight success. The approval process stretched about 15 months. Feels like forever in crypto time. This coincides with their mainnet going live. Users can access it now. Trading data's available through the usual providers.
GRVT has built quite a setup since late 2022. They've got 55 institutional partners and clients. Not bad. Their 17 market makers have promised $4.2 billion in monthly trading volume. Plus over 20,000 retail users completed KYC.
Where Old Money Meets New Tech 🌉
GRVT seems to be leading the CeDeFi wave – that's centralized and decentralized finance smashed together. Yea thinks regulation and decentralization actually complement each other.
"Decentralization spreads control around, making things more transparent and secure," Yea said. "Regulation sets standards that protect everyone." He added something interesting: "The unregulated nature of certain protocols? That's what's keeping the big institutions away." 🛡️
Their approval comes at an interesting time. Late 2024 saw several self-custodial wallet providers adding features that mix regulated exchange capabilities with new financial tools.
Yea reflected: "Traditional finance has spent centuries developing regulations that keep it mainstream despite its failures. We're taking those frameworks but adding blockchain innovation to the mix." 🌕
With this license, GRVT joins a small club of properly regulated digital asset businesses in Bermuda. Their future? Not entirely clear, but they're positioned for something big.