The team at Digital Asset Management reports that it is now live on Crowdcube as the first Gibraltar registered firm to crowdfund.
The firm’s management told Crowdfund Insider:
“During the first few days of being live in Dam’s community, the company has raised over 1,000,000 GBP. Dam is now overfunding and at the time of writing this is 103% complete. With a few weeks remaining in the public crowdfund, now’s the time to invest before it’s too late.”
Launched in 2017, DAM is one of 12 distributed ledger tech (DLT) licensed and regulated firms operating in Gibraltar, “taking advantage of the regulatory certainty offered by the Gibraltar Government.”
DAM is licensed and regulated to provide crypto OTC (Over-The-Counter) brokerage and custodial services by the GFSC. The firm has 32 workers, most of which are currently based in Gibraltar and has ambitions “to enter the American markets in 2022.”
DAM has more than 400 OTC customers and has traded over 500 million euros in crypto during H1 2021 alone and more than 1B since 2019.
The company will be introducing Damex in Q4 2021. Damex is a retail application “focused on health and finance which has gained over 80,000 sign ups on a waiting list so far,” the company told CI.
Aside from the DLT license in Gibraltar, which enables DAM to purchase/sell and store crypto-assets for their customers as a financial institution, DAM is also registered with the Financial Conduct Authority (FCA) in the UK as an EMI (Electronic Money Institution) agency company under Modulr Finance Ltd. This allows DAM “to issue IBANs (International Bank Account Numbers) and Sort Codes to their clients within the Damex mobile application.”
Additionally, the DAMEX debit card has been “approved by Visa and shipments will begin before the end of the year,” the update revealed.
DAM’s CEO, Sam Buxton stated:
‘‘Our first four years have been a successful grind and we are now well positioned for the next four years to be game changing for the company. We truly believe our Damex Application will make a positive impact in our communities. We’re excited to welcome the public into our family and we look forward to the journey ahead with the community by our side.”
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