Fintech in Gibraltar

Hassans

Hassans handles all types of fintech-related matters, including token sales, DLT and providers’ license applications. The firm has a strong relationship with the Government of Gibraltar, for whom it provided advice on the regulatory landscape for DLT businesses and token sales. The co-heads of the practice are Vikram Nagrani and Anthony Provasoli, who are experienced in initial coin offerings, security token offerings, licence applications under Gibraltar’s DLT Providers Regulation. They also advise on other financial services such as e-money and payment services. Funds specialist Aaron Payas is recommended for initial exchange offerings, tokenisation of assets and virtual currencies.

Key clients

INX Limited

First Group Digital Assets

CEX.IO

ETORO

TokenMarket

Colu

Work highlights

  • Advised RockCyph3r Fund PCC Limited on becoming the country’s first approved and regulated Crypto Fund.
  • Advising INX Limited, a Gibraltar private limited company, on its proposed security token offering both within the EU under a fully prospectus under the Prospectus Directive and (working with a US firm) in the US.
  • Assisted trading platform eToro with obtaining its DLT Operator Licence from the Gibraltar Financial Services Commission, one of the first entities in the world to obtain a financial services licence specifically designed for Blockchain related business.

ISOLAS LLP

ISOLAS LLP has been heavily involved in the recent fintech industry developments in the DLT sector; assisting and advising Gibraltar Financial Services Commission regulated firms who have applied for a DLT licence under the new framework on various matters while also working with the Gibraltar Stock Exchange on its developments into the listing and trading of certain tokenised securities. Joey Garcia and Jonathan Garcia have experience advising  blockchain start-ups on setting up businesses in Gibraltar and on corporate and regulatory authorisations.

Practice head(s):

Joey Garcia

Key clients

Coinsilium Group Limited

Xapo

Huobi

LMAX Exchange Group Limited

The Gibraltar Stock Exchange

The Gibraltar Blockchain Exchange (GBX)

Work highlights

  • Advising Huobi on their license application, which included the exchange’s custodial arrangements, on-boarding assessment processes, aml/cft frameworks, governance infrastructure, among other issues.
  • Assisting LMAX Exchange Group on the application of a DLT licence from the Financial Services Commission in Gibraltar.
  • Advising Coinfirm on taxation of crypto-assets, particular the tax implications of fundraising through a token sale.

Triay Lawyers

Triay & Triay regularly works with the Government of Gibraltar on proposed legislative changes, including those relating to the DLT regime, token sales/initial coin offerings and the tokenisation of securities. The firm is experienced in regulatory compliance, licence applications, token generation events and commercial technology transactions. Joseph E Triay is currently assisting Easy Payment Gateway with its application for a Class C licence under the Payment Services Directive 2 – the first in Gibraltar. Jay Gomez and Javi Triay are names to note.

Practice head(s):

Joseph E Triay

Key clients

Easy Payment

Gateway

Wirex

Wibson

Work highlights

  • Advised Wirex Limited on its initial exchange offering structured out of Gibraltar, including assistance with the white paper and the preparation of a regulatory legal opinion on the token.
  • Assisting a number of exchanges with their licence applications under the DLT regime.
  • Advised clients on various funds, both tokenising their unit of participation and investing in DLT/crypto.