Crypto exchange Covesting has become one of the first countries in the world to receive a Distributed Ledger Technology (DLT) license from the regulatory authorities in Gibraltar. The exchange based out of Europe is a professional trading platform that offers a secure and technologically advanced infrastructure for traders and investors worldwide.
This news of securing a DLT license by Covesting comes just a few days after the Coinfloor exchange, that’s based out of U.K., too received the same. The Gibraltar Financial Services Commission (GFSC) needs the licensed firms to demonstrate if it has adequate IT systems, controls and financial resources to comply with terrorist financing and anti-money laundering rules.
A firm that is approved by the GFSC offers its customers several assurances regarding the trustworthiness of the service they are being offered as well as the safety of their funds. CEO and founder Covesting, Dmitrij Pruglo stated that receiving a DLT provider’s license is a huge milestone for the crypto community at large and his company in particular.
Crypto exchange Covesting facilitates everyday investors to compare and search the performance of hundreds of proven crypto traders and mirrors their trades automatically. It also helps the investors compete with other traders in an equally fair environment and helps the investing talents bring their results to the forefront, as stated by the Finance Magnates.
Launched by former Saxo Bank traders, Covesting is a global fintech company that is registered and incorporated in Gibraltar. The exchange is building an ultimate crypto trading infrastructure that entails a copy-trading platform, aggregated order book, a licensed digital asset exchange and fiat/crypto gateway that is fully compliant with strict requirements of European regulators.
The exchange’s services and products meet the needs of both professional and neophyte traders by covering a wide range of crypto trading aspects such as market analysis, education, copy trading, liquidity aggregation and algorithmic order execution, as reported by PR Newswire.
Crypto exchange Covesting’s platform intends to bring ordinary investors who do not have the technological knowledge or the time to invest in cryptocurrencies by facilitating them with the ability to intelligently invest in a booming new market.
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