Covesting, a cryptocurrency exchange and trading platform, announced on Friday it received its Distributed Ledger Technology License (DLT) from regulatory authorities in Gibraltar.
Covesting reported that the DLT License puts its exchange in a unique and strategically advantageous position within the cryptocurrency markets, as it will make the exchange significantly more likely to onboard institutional clients and high-net-worth individuals who want to invest on a fully regulated platform.
Speaking about the exchange’s latest milestone, Covesting’s Founder and CEO, Dmitrij Pruglo, stated:
“Receiving a DLT Providers license is a huge milestone for us as a company and as a community. To establish a new standard for crypto exchanges, to work in a regulated environment, to use the best practices, and to set a new industry benchmark are the goals we defined for ourselves at the very beginning of our journey. We are happy to be incorporated and licensed in Gibraltar, a jurisdiction in which the industry is supported by the government and service providers.”
Founded in 2017, Covesting is described as a cryptocurrency exchange and a trading platform that offers a complete and secure infrastructure for investors and traders. Its full description reads:
“Backed by a strong team of industry professionals, Covesting is on a clear path to become an ultimate solution for investors and traders worldwide. It will cover every aspect related to cryptocurrency trading, from education, market overview and trading ideas to the unique concept of p2p asset management, liquidity aggregation and ultimately the most advanced trading station.”