The small territory is fast becoming a major hub for blockchain technology companies.
Cryptocurrency exchange Huobi has received a Distributed Ledger Technology (DLT) license from Gibraltarian authorities according to a statement released by the British territory’s financial regulator this Monday.
“This announcement is yet another example of the effective road to market Gibraltar is providing for companies seeking continued innovation under the umbrella of sensible and secure regulation,” said Albert Isola, Gibraltar’s Minister for Commerce. “The robust DLT legislation we have introduced gives quality companies like Huobi a supportive framework on which they can further develop and cultivate sustainable legacies.”
Just as it has succeeded in becoming a hub for the online gaming industry over the past 25 years, Gibraltar is now trying to attract blockchain technology companies to its corner of the Iberian peninsula.