Gate Granted DLT Provider Permission

• Published date: 29 January 2024
• Subject Matter: Technology, Fin Tech
• Law Firm: ISOLAS
• Author: Mr Jonathan Garcia

Gate, a leading crypto services provider known for its Gate.io exchange, announced that Hippo Capital Co Limited has been granted permission by the Gibraltar Financial Services Commission (GFSC) to operate as a Distributed Ledger Technology (DLT) Provider. As a result, it can now provide broker/dealer services and virtual asset custody services.

This permission means Hippo Capital is in compliance with all ten regulatory principles laid out by the GFSC. Created to protect consumers and businesses when transmitting or storing assets on distributed ledgers, the ten principles outline comprehensive risk management processes, honest and fair practices, exceptional customer care standards, and strict AML/CFT/CPF measures, among other guidelines that proactively protect consumers and businesses.

Following the granting of permission, which was obtained in partnership with ISOLAS LLP, Hippo Capital can begin introducing high-quality and secure services, aiming to offer professional virtual asset services customised for consumers, professionals, and institutions in the region.

Dr. Lin Han, founder and CEO of Gate, said: "We are more than grateful for the GFSC's permission to offer high-quality virtual asset services in Gibraltar. The Hippo Capital team is eager to set the bar high with safe and reliable services that exceed regulatory expectations. We applaud the GFSC's framework for increasing trust and protection while welcoming innovation...