Structure Financial’s Regulatory Sandbox Admission

Harneys advised on the BVI FSC’s second successful admission to the Regulatory Sandbox.

On 1 May 2022, Structure Financial commenced its participation in the British Virgin Islands Regulatory Sandbox, the second successful applicant approved by the BVI Financial Services Commission to date. Structure.fi is a global financial platform, which offers its mainstream audience mobile-first personal finance tools capable of transacting seamlessly across all asset classes.

Founded in 2021, Structure.fi raised US$20 million from Polychain Capital and others to enable mainstream investors and traders to access DeFi opportunities, cryptocurrencies and traditional investment opportunities via a single mobile-first, user-friendly interface.

Structure.fi fits nicely within the category of technology innovation the BVI is seeking to encourage with its new framework and will offer its clients the ability to invest in tokenized stocks, options, cryptocurrencies and ETFs, 24 hours a day with zero commissions. Moreover, unlike platforms that require investors to execute multiple swaps to make their desired exchanges, Structure.fi’s users will be able to trade directly between any pair of assets in a single execution, and make and receive payments in the tokens of their choosing. Structure.fi is opening the product to a growing number of participants; obtaining real time feedback from users in order to bring a product to market that fulfils their commitment to create a platform that works for the broadest range of potential investors.

The Harneys team, spearheaded by Head of BVI Regulatory Ayana Hull (Picture) and Senior Associate Kimberly Seagojo, led the transaction in its entirety and secured approval by the BVI FSC in early 2022.

 

Involved fees earner: Ayana Hull – Harneys; Kimberly Seagojo – Harneys;

Law Firms: Harneys;

Clients: Structure Financial;

Sonia Carcano

Author: Sonia Carcano