Crypto derivatives exchange Quedex gets a license from Gibraltar regulator

Markets • July 31, 2019, 9:30AM EDT
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Gibraltar-based cryptocurrency derivatives exchange Quedex has received a Distributed Ledger Technology (DLT) Providers license from the island's financial regulator.

It took 15 months for the exchange for getting the license from the Gibraltar Financial Services Commission (GFSC), Quedex announced Wednesday. With the permit in place, "there is now a way to hedge against cryptocurrency volatility in a regulated environment," said the exchange.

Quedex offers futures and options (F&O) contracts on cryptocurrencies, and serves mainly to institutional investors, including miners, hedgers and active traders, per the announcement.

The regulator announced the DLT regulatory framework in January 2018, making it mandatory for firms using blockchain to "store or transmit value belonging to others" to apply for a license.

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Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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