Fintech 2023

Law and Practice

1. Fintech Market

1.1 Evolution of the Fintech Market

Emergent fintech firms continue to grow in Guernsey, taking advantage of the Island?s internationally recognised, flexible and forward-thinking regulatory environment in blockchain administration, lending, robo-advisory, data analytics, payment services, client due diligence and prime-brokerage platforms.

In particular, blockchain platforms operating in Guernsey benefit from the Electronic Transactions (Guernsey) Law, 2000 (the "Electronic Transactions Law") which confirms that, subject to limited exceptions, a contract cannot be denied legal effect, validity or enforceability solely because the contract was made in an electronic form or by electronic means. The Electronic Transactions Law is technology agnostic and can be applied to all forms of digital technology.