B21 has been granted a DLT license, in principle, from the Gibraltar Financial Services Commission (GFSC). B21 is a developer of an App to purchase, trade and manage digital assets, according to a release.
B21 is now the first regulated cryptocurrency investment app.
The app will be available in Europe and Asia at launch in Q4 2019, with plans to enter the U.S. market in 2020.
As a regulated service provider and custodian, B21 states that it will protect investors while simplifying the process of managing digital assets.
Miles Paschini, co-founder of B21, noted that crypto investing is in its early days but there is demand for platforms that simplify the process in a legal and safe manner
“We welcome the scrutiny and increased regulation of the sector. By obtaining our DLT license and becoming the only regulated crypto investment app, we’re demonstrating our commitment to users and supporting widespread crypto adoption,” said Paschini.
The B21 app is designed to be easy to use for consumers. The app will utilize multiple liquidity providers seeking to provide the best price and trade execution. B21 compares its service to Fintechs like Betterment and Wealthfront but for digital assets.
The B21 app is available in English, Russian, Japanese, Korean and Spanish, with support for additional languages to follow.