Institutional Crypto Lending Platform Receives Gibraltar DLT License
Jack Martin's original article for cointelegraph.com reduced by 78%
Fully collateralized crypto-to-crypto lending platform Lendingblock has received a distributed ledger technology provider license from Gibraltar Financial Services Commission, reports Crowdfund Insider on Aug. 15. The accreditation brings the institution-focused platform one step closer to launch.
The GFSC awarded an in-principle DLT provider license in late 2018.New capital lending model for digital assetsProviding collateralized lending and borrowing reportedly allows Lendingblock to support short-term trading, hedging and working capital needs. This mirrors traditional financial markets, which the company aims to reinvent with a better model to service the digital asset lending market. To this end, it recently created the first Global Digital Assets Lending Agreement, hoping to establish a new benchmark and crypto industry standard.
"It is 18 months since the DLT regulatory framework came into effect and we have seen a growing number of excellent companies and startups come to Gibraltar and work within this regulated framework." Earlier this month, Gibraltar awarded its first DLT license to a local cryptocurrency exchange.
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