FTX-Owned Derivatives Exchange ZUBR Approved in Gibraltar as a DLT Provider

FTX-owned derivatives exchange ZUBR has received approval from the Gibraltar Financial Services Commission (GFSC) as a DLT provider.

• The exchange’s Gibraltar-based owner and operator, Zubr Exchange, is now fully licensed under Gibraltar’s crypto regulatory framework.
• FTX acquired the exchange earlier this year and has started integrating Zubr Exchange’s team.
• The GFSC has offered DLT licenses since the beginning of 2018.
• “Securing this DLT provider license for our subsidiary is a key step toward our goal of creating a trustworthy and compliant exchange group that can be used by investors of all types around the globe,” said Sam Bankman-Fried, FTX’s CEO, in a statement.
• In March 2020, ZUBR received in-principle approval from the GFSC as a DLT provider and began trading. The final approval was conditional on the exchange addressing some of the regulator’s feedback.

Read more: It’s Tough Getting Approved in Gibraltar, Says Green-Lighted Crypto Derivatives Exchange