May 12, 2021
Investors in the round include Tiger Global, Coatue, Paradigm, BOND, Valor Capital Group, QED, Pantera Capital, and Kaszek.
Gibraltar – 12 May 2021 – H.M Government of Gibraltar welcomes the news that BITSO, a leading Gibraltar licensed and regulated firm, has raised a $255 million Series C equity round led by Tiger Global and Coatue which, reports suggest, provides them with a US$2.2 billion valuation.
In 2019, BITSO obtained a full DLT license from the Gibraltar Financial Services Commission following the establishment of the DLT Legal framework which was introduced in January 2018. Gibraltar’s DLT legislation is the world’s first purpose-built regulatory framework for businesses using DLT to store or transfer value belonging to others.
The Hon Albert Isola, Minister for Digital and Financial Services said, “My sincere congratulations to our friends at BITSO for their continuing success. We are committed to providing an efficient, safe, and innovative regulatory framework for companies to be licensed and supervised here. As we continue to see the industry and companies like BITSO mature and push global boundaries, Gibraltar remains dedicated to creating an open dialogue between regulators and industry figures to promote this innovative business in a safe and regulated environment. As Gibraltar firms continue to grow internationally, we welcome their commitment to meeting these standards and demonstrating the effectiveness of our framework in the global marketplace.”
Daniel Vogel, CEO of BITSO commented, "The GFSC and the DLT Providers Regulatory framework have allowed us to continue innovating, expanding and advocating for everybody in Latam to access this technology. It has been more than two years since we started planning our international expansion plans—obtaining our DLT license was an essential step on our way to expanding across the Region. Trust is paramount to make crypto useful and for our customers to use BITSO in their everyday life. The GFSC helps us establish that trust. This capital will enable us to expand our current capabilities, our product offering and continue making crypto useful across Latin America."
BITSO's upcoming product offering will be focused on better serving the needs of consumers and businesses across Latin America by making crypto useful. New products are in development as BITSO continues to build next generation borderless financial services for consumers and businesses alike.
Having updated its DLT regulatory framework in late 2020, the Government of Gibraltar recently announced the establishment of a new working group that will be responsible for defining the appropriate market standards for VASP’s operating in the digital asset space.
Minister for Digital and Financial Services, The Hon Albert Isola MP, is available for interview.
Eleanor McGovern – Consultant Wachsman
P: +353 87 933 7769
A British Overseas Territory, Gibraltar is a self-governing and self-financing democracy that has established itself globally as a reliable centre for the blockchain and digital assets industry. In January 2018, Gibraltar became the very first jurisdiction globally to introduce legislation around Distributed-Ledger-Technology (DLT) and has since asserted its position as a leading blockchain and virtual assets hub. With Gibraltar’s core values of regulation, reputation, and speed to market at the foundation of its efforts within the blockchain industry, Gibraltar is now globally renowned for its commitment to creating a sustainable and secure regulatory framework for DLT, as well as being one of the leading proponents in the advancement of the technology. For more information, please visit http://www.gibraltarfinance.gi/en/home
BITSO is a leading Latin American crypto first platform with a community of over 2 million users. The company offers three main products: the BITSO App for new or experienced cryptocurrency users to buy, sell, send, or receive crypto in a simple and intuitive way; BITSO Alpha, a professional-grade crypto trading platform; and BITSO Business, a suite of cross-border products that enables businesses to thrive in a global digital economy. BITSO is one of the few crypto exchanges, and the only one in Latin America, to obtain a Distributed Ledger Technology (DLT) license from the Gibraltar Financial Services Commission (GFSC), a sovereign agency which has developed one of the most advanced frameworks for regulating cryptocurrency trading. BITSO is also the first and only exchange in Latin America to insure its users’ funds. Founded in 2014, with over 300 employees across 25 different countries, BITSO is working to make crypto useful by liberating the world from traditional financial players and redefining money.
To learn more about BITSO, visit bitso.com.
About the Hon Albert Isola MP
The Honourable Albert Isola MP is Gibraltar’s Minister for Digital and Financial Services with the primary responsibility of raising Gibraltar’s profile as an established onshore, mainstream, well- regulated financial services centre. He has specific responsibility for financial services, digital technology innovation, and online gaming.
Working closely with the financial services regulator, the Financial Services Commission, he is responsible for financial services policy, product development, and responding to international initiatives such as international tax compliance. Minister Isola played a leading role in the establishment of the Gibraltar International Bank, a first for Gibraltar as a home-grown full-service credit institution.
Minister Isola previously served as Gibraltar’s Minister for Commerce where he played a central role in driving the creation of the world’s first purpose-built DLT regulatory framework, which became law in January 2018, for firms using blockchain to store or transfer value belonging to others.
For more information, please visit http://www.gibraltarfinance.gi/en/home