Crypto Exchange GRVT Wins a License in Bermuda

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The latest industry company to receive regulatory approval from the Bermuda Monetary Authority (BMA) is hybrid cryptocurrency exchange GRVT.

On December 6th, GRVT announced that it has obtained a Class Modified (M) Digital Asset Business License from the BMA, which grants the exchange permission to operate as a regulated decentralized exchange (DEX).

According to GRVT co-founder and CEO Hong Yea, the exchange’s goal is to secure a Class Full (F) license by mid-2025 and expand its operations beyond a sandbox environment.

GRVT now joins the ranks of more than 30 crypto companies that have been licensed by the BMA, including prominent names in the industry such as Coinbase, Bittrex, HashKey, and others.

With this license, GRVT is able to bridge the gap between decentralized finance (DeFi) and centralized finance (CeFi), making it one of the first DEX operators to do so.