Fintech in Malta

Ganado Advocates

With a strong track record of advising digital banks, payment institutions and electronic money institutions on all regulatory requirements, Ganado Advocates is well placed to assist existing clients who wish to launch a fintech product, as well as new clients seeking authorisation. James Farrugia ‘is very knowledgeable about digital assets and related regulations. Fintech group head Leonard Bonello and associate James Debono are the main contacts for banking operations, blockchain and crowdfunding mandates.

Practice head(s):

Leonard Bonello


Other key lawyers:

James Debono


Testimonials

‘The firm is able to cover a broad range of themes and matters, and provide advice on each of them. It’s well established and has a good reputation.’

‘As that they have various people specialised in different topics, they are able to tap into each other’s expertise and provide the right assistance and advice.’

‘The regulatory team in Ganado has the most experience in advising digital asset service providers in Malta. They know the rules and regulations very well (in fact, the firm drafted the Virtual Financial Asset rules and regulations in Malta). In general, they are the best law firm in Malta whose advice we can trust. They are also very responsive and user friendly, and very pragmatic and practical.’

‘James Farrugia is very knowledgeable about digital assets and related regulations and very pragmatic. His team is super responsive and client friendly.’

‘They quickly understood our business and gave rapid, high-quality advice. They have demonstrated that they have an excellent knowledge of the EU and UK regulations (PSD2) and know the local ecosystem. For each new challenge we have presented to them, they have shown outstanding professionalism and dedication to their clients. I definitely recommend the firm for its skills in financial services regulation, data protection, and technology.’

‘Out-of-the-box thinking, consistent approach to the business, thorough follow-up.’

‘Deep knowledge and expertise in specialised areas. Strong communication lines with authorities.’

‘The team has great resources at its disposal and is the largest firm in Malta by far.’

GTG Advocates

Considered a pioneer of Maltese blockchain, cryptocurrency and, more generally, technology law, GTG Advocates remains highly sought after for cryptocurrency exchange licensing and initial coin offerings, and gaming, technology, data protection and e-commerce matters. According to clients, Ian Gauci is a ‘stand-out individual’ and ‘undisputed guru of fintech in Malta'. Senior associates Cherise Abela Grech and Terrence Cassar provide valuable support in matters related to virtual currencies and security token offerings.

Practice head(s):

Ian Gauci


Other key lawyers:

Cherise Abela Grech; Terence Cassar


Testimonials

‘What makes this practice unique is that GTG Advocates knows every fintech law matter inside out. Its lawyers have been responsible for legislation and its operation in Malta, and are also capable of simplifying the law, as well as providing historical reasoning and forward-thinking solutions.’

‘They are always a step ahead, and particularly known for advising all respective authorities on this subject, and for representing some of the world’s leading fintechs.’

‘Ian Gauci is a stand-out individual, locally known as the best and most sought after lawyer in the fintech sphere – the undisputed guru of fintech in Malta.’

‘Cherise Abela Grech is a valuable lawyer, who is very detail oriented and capable of giving you the peace of mind necessary when navigating complex regulatory fields.’

‘Ian Gauci has great knowledge and a unique view of financial innovation matters. The way he manages the team seems simple and effective.’

‘GTG’s fintech team are the best locally without any doubt, and are known as co-authors of the local laws as well as the go-to experts for any fintech matter.’

‘Ian Gauci is a stand-out partner. He is one of the few lawyers who don’t just know the law, but also understand deeply how fintech technology works at a technical level.’

‘Terence Cassar is also great in fintech, especially with regard to business tech matters. His main qualities are leadership and unparalleled negotiations skills, which I find remarkable, especially given his relatively young age. He will be GTG’s up-and-coming star without a doubt.’

Key clients

The Government of Malta


Malta Digital Innovation Authority (MDIA)


RS2 Software plc


Hacksaw Gaming


FMPay


Ethernity Cloud


ForumPay (System 73 Ltd)


Qufan Internet Technologies Ltd


Work highlights


  • Advised the Malta Digital Innovation Authority on the proposal for a regulation on markets in crypto-assets and amending Directive (EU) 2019/1937 and the proposal for a regulation on digital operational resilience for the financial sector.
  • Advised the Malta Digital Innovation Authority on the implications of the proposed EU regulation on artificial intelligence, specifically on how the MDIA can maintain its role as a certification and supervisory authority, as well as on the implementation and formulation of the first technology sandbox in Malta.
  • Advised Ethernity Cloud on the creation of its crypto token and subsequent public issuance.

WH Partners

WH Partners impresses clients with its ‘exceptional industry knowledge and connections. Joseph F Borg spearheads the diverse fintech, blockchain and technology practice, advising on licensing and registration, commercial and corporate issues, data protection and cybersecurity, and representing clients in the negotiation of big-ticket technology licensing deals. Senior associate Kelly Fenech is noted for her capabilities in handling complex distributed ledger technology and fintech mandates, with a special focus on investment and payment services and anti-money laundering.

Practice head(s):

Joseph F Borg


Other key lawyers:

Kelly Fenech


Testimonials

‘What makes their practice unique is that WH Partners are always up to date with the latest trends and new developments such as blockchain, NFTs and instant payments, and how these fit into the overall regulatory framework for fintechs.’

‘I mostly value in WH Partners the fact that they are commercially aware, straight to the point, and very experienced. The firm’s lawyers are always aware of technological developments and provide a methodical approach to each case based on their solid experience.’

‘Joseph Borg is an exceptional professional, providing top-notch advice on fintech matters with a deep understanding of both the market trends and regulation in the field of fintech, blockchain technology, and cryptocurrencies.’

‘One of the firms which are leaders and competent in the subject of fintech.’

‘Joseph Borg is extremely responsive, practical and knowledgable. Always ready to find a solution.’

‘WH Partners have exceptional industry knowledge and connections. The team are entrepreneurial, commercial and they have a strong focus on fintech. I would say their particular strengths are in cryptocurrency, blockchain and emerging payments, with a good underpinning knowledge of financial regulatory law and AML regulation. This work aligns closely with their pre-eminent practice in gaming and NFTs.’

‘In the fintech space, Joe Borg is a leader in Malta.’

‘Individuals are extremely knowledgable with immediate answers readily available. Joseph Borg in particular has always gone out of his way to provide a service which is not only extremely professional, but always accurate and of immense value.’

Key clients

FalconX Limited


dLocal Group Limited


Everest Network Ltd


Moneybite


Consensys AG


Bitconvert Ltd


WorldPay Inc


Work highlights


  • Acting for dLocal, a leading start-up cross-border payment platform provider and Latin America’s first unicorn, on its restructuring ahead of its Nasdaq IPO.
  • Advising FalconX, the most technologically advanced digital asset trading platform in the world, on the structure of three venture capital financing rounds worth an aggregate investment of $261m, involving investors such as B Capital, Tiger Global, Sapphire, and Altimeter.
  • Advising Metaverse Architects, a Maltese start-up company focused on 3D modelling and game development for the metaverse.

Camilleri Preziosi

Focusing on the application of technologies such as NFTs and AI, with complementary expertise in corporate and commercial law, Malcolm Falzon is the main partner in Camilleri Preziosi's practice. Falzon and senior associate Diane Bugeja are developing the firm’s growing fintech client base and advise clients in the financial services sector on applications and developments relevant to the insurance, banking, investment and payment services space.

Practice head(s):

Malcolm Falzon


Other key lawyers:

Diane Bugeja


Testimonials

‘Technical competence and service level.’

‘Good experience, technical ability in the specific area engaged on and quality of the service.’

Work highlights


  • Assisted Moneybite Limited with the approval of its Virtual Financial Assets licence.

GVZH Advocates

Kurt Hyzler and managing partner Andrew Zammit are the key contacts at GVZH Advocates, whose fintech offering includes advising on the licensing of online forex trading models and electronic money businesses, and fintech regulatory matters.

Practice head(s):

Andrew Zammit


Other key lawyers:

Kurt Hyzler


Testimonials

‘Really energetic team that act as an extension of our legal team. They provide helpful insights and solutions to problems based on lived experiences and knowledge of the regulator.’

‘Andrew Zammit is first class. Very business-focused and straight-talking advice that gets to the key points.’

‘Personal attention, flexbility, reliability.’

Key clients

Moneybase


eToro


Work highlights


  • Continuing to support eToro Money Malta Limited on all the legal and regulatory aspects of its operations in Malta.
  • Advising Moneybase on all legal and regulatory aspects of the company’s operation.

Mamo TCV Advocates

At Mamo TCV Advocates, Katya Tua is the key contact in the fintech practice, which offers compliance support and assistance relating to the Virtual Financial Assets Act and its underlying framework, and the preparation of the MFSA FinTech Regulatory Sandbox proposal and application process.

Practice head(s):

Katya Tua