Crypto derivatives platform ZUBR has been granted an in- principle Distributed Ledger Technology (DLT) authorization from the Gibraltar Financial Services Commissioner (GFSC).
ZUBR is an arbitrage hub for digital asset derivatives, aimed at experienced and professional market participants and traders exploiting quantitative algorithmic and latency-sensitive trading strategies. Its client-base includes proprietary trading firms and individuals that trade in a wide range of cryptocurrency markets, using arbitrage and other latency-sensitive strategies across multiple trading venues.
The in-principle approval is the beginning of the final stage of the license authorization process, and ensures that ZUBR shall be, by the time the license is issued, compliant with the nine regulatory principles set out in Gibraltar’s DLT regulations, designed to protect consumers and businesses using digital assets stored or transmitted on distributed ledgers. These regulatory principles include robust risk management processes, effective corporate governance, high standards of customer care, systems and security controls to combat financial and cybercrime, and adopting standards of honesty and integrity.
ZUBR said that it will continue to fulfil the in-principle conditions requested by GFSC and work with the regulator closely to complete this process, upon which ZUBR will receive its license.
“This is a great step for ZUBR. A lot of time and resource has been invested to ensure our product goes above and beyond client expectation, from being the first live digital derivatives platform to have been successfully tested by ex-LSE Group testing firm Exactpro, to this licence process that will position us as one of the first regulated digital derivatives exchanges outside of the US,” said Ilgar Alekperov, CEO of ZUBR. “Since inception, we have always conducted our business as if we were a traditional financial services offering, but having a licence in a robust European jurisdiction was always the next step. Gibraltar’s DLT framework provides us with regulatory certainty when dealing with new asset classes, providing our clients with assurance that ZUBR is the go-to digital assets derivatives exchange.”
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