GRVT Secures Bermuda License, Becoming World’s First Regulated DEX, A Milestone for DeFi to Go Mainstream (6 Dec)

Singapore, Singapore, December 6th, 2024, Chainwire

Regulated DeFi - The Key for Mainstream and Institutional Adoption

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, secure, and compliant approach - paving the way for mainstream and wider institutional adoption of DeFi. 

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.

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.”

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.

Disclaimer: Cryptocurrencies carry high risks. This content is not a distribution of, or an offer or solicitation to provide, financial services or products, nor a representation as to their suitability or legality for you. GRVT is not a regulated entity and your funds are not subject to regulatory protection. Before making any decision based on this content, please seek financial and legal advice, and carefully review our [Risk Disclosure and Disclaimer] in full.

Singapore users: GRVT is not licensed, approved, authorised, designated, recognised, registered or otherwise regulated under any legislation administered by the Monetary Authority of Singapore ("MAS"). As such, users will not have the benefit of any regulatory safeguards imposed by the MAS.

GRVT International Limited (“GIL”), the operating entity of GRVT in Bermuda, has not yet commenced operation. GIL will formally launch once it has satisfied all pre-operational conditions required by the Bermuda Monetary Authority.

###

About GRVT

GRVT (pronounced “gravity”) is the world’s first regulated DEX. Founded in 2022, it operates as a hybrid derivatives platform, offering off-chain order matching and on-chain settlements at an impressive 600,000 TPS. GRVT’s vision is to redesign the global financial system from its core by leveraging blockchain technology, giving more people the power to generate and fully own their wealth without barriers. With the ambition to build the “Goldman Sachs on blockchain”, GRVT brings institutional expertise to decentralized finance. Our goal is to build an open, scalable financial marketplace, where individuals can easily access financial products.

Contact