BlockFi International’s Digital Assets Business Licence

Walkers has acted as Bermuda counsel to Block Fi in this matter.

BlockFi, a crypto financial services company, is pleased to announce that the Bermuda Monetary Authority has granted its Bermuda subsidiary, BlockFi International Ltd., a “Class F” Digital Assets Business License. 

With this license, BlockFi will centralize its existing products and services for non-U.S. retail and institutional clients under a comprehensive and clear regulatory framework for cryptocurrency financial service providers. In addition, BlockFi will open a new office in Bermuda to be staffed by a combination of local talent and existing BlockFi staff. 

The “Class F” Digital Assets Business license allows BlockFi International Ltd. to provide a variety of products and services for both retail and institutional non-U.S. clients, including: issuing, selling or redeeming virtual coins, tokens or any other form of digital assets; operating as a digital asset exchange; providing custodial wallet services; operating as a digital asset derivative exchange provider; and operating as a digital assets services vendor in accordance with the requirements of Bermuda’s Digital Assets Business Act, 2018.

BlockFi is a trusted platform to easily build and manage your crypto portfolio.

The Walkers’ team was led by partner Natalie Neto (Picture) with assistance from senior associate Melanie Fullerton and associate Julian Wheddon.

Involved fees earner: Melanie Fullerton – Walkers Global; Natalie Neto – Walkers Global; Julian Wheddon – Walkers Global;

Law Firms: Walkers Global;

Clients: BlockFi Inc;

Sonia Carcano

Author: Sonia Carcano