Crypto derivatives firm Quedex obtains Gibraltar regulatory license

The Gibraltar Financial Services Commission (GFSC) recently granted a license for crypto derivatives firm Quedex to operate in the country, making it the first crypto futures and options exchange to do so.

In a post on Medium explaining the details and the implications of this new license, Quedex notes that it is now the first firm of its kind to receive a license for Distributed Ledger Technology (DLT) Providers. The process to acquire such a license took 15 months of work that involved the firm’s lawyers working with authorities to make sure that the exchange met all of the GFSC’s standards.

Now that it has the license, the firm can offer its full set of services to the people of Gibraltar with the blessing of the country’s authorities. What’s more, it also means that volatility will be less of an issue since the license also allows for a hedge within a regulated framework.

Considering that volatility is one of the biggest problems associated with the crypto industry, having such a support system would make Quedex’s services more appealing. This is something that CEO and co-founder Wiktor Gromniak emphasized in the post.

“In order for the crypto industry to mature and to welcome more institutional investors into our tent it is of the essence that we create transparent financial markets and develop sophisticated financial products, such as futures and options. Being licensed by a very well respected and forward thinking jurisdiction like Gibraltar is a landmark moment for this industry in general and Quedex specifically,” he said.

The GFSC was not the only government authority of note to express support for the licensure approval, Cointelegraph reports. The country’s Minister for Commerce Albert Isola also weighed in and showed his enthusiasm at the prospect of Quedex being able to offer its services to the people of Gibraltar on a regulated basis.