Blackfridge is Awarded Licence to Issue GBPT

Blackfridge is now licensed and regulated by the Isle of Man Financial Services Authority.

“We’re incredibly proud and excited to have been awarded a licence from the Isle of Man Financial Services Authority and continue to be extremely impressed with the Isle of Man and the appetite for driving innovative blockchain technology. The licence legitimises Blackfridge’s GBPT stablecoin, keeps us well-positioned as a leader at the forefront of regulated, decentralised technology and is the first business in the British Isles to issue a regulated GBP stablecoin”. – Mike Crosbie, Chief Business Officer.

Blackfridge has overcome numerous hurdles to become the first Isle of Man-licensed stablecoin issuer and the first participant in the authority’s regulatory sandbox.

“We strive to build a robust, efficient, and user-friendly stablecoin platform for our institutional clients. Doing this within a regulatory framework where some operate with no framework is a big challenge but something we strongly believe in. We highly recommend the Isle of Man to other innovative blockchain startups”. – Alan Sun, Chief Executive Officer.

Key components of Blackfridge’s new, including security, smart contracts and crypto wallets, are pivotal to providing a world-class platform to be trusted by our international clients. The nascent nature of the technology has required a model of development that is entirely new and bespoke to the strict framework under which the business will operate.

The Isle of Man has positioned itself as an international blockchain hub with an appetite for nurturing and supporting innovative and disruptive blockchain technologies. As a company seeking to expand further into the fintech and blockchain sectors, we are impressed by the jurisdiction’s experience and enthusiasm.

“The support we’ve received from The Department for Enterprise and Digital Isle of Man has been fundamental to our success.
During networking events, demonstrations, and working side-by-side with the Digital Agency and the Financial Services Authority from the application stage to where we are now, we are happy to report that the experience has been far better than anticipated. It’s encouraging that what we discussed in our initial communications has come to fruition in terms of assistance and establishing a sound understanding of the business, allowing us to drive the business forward continually”. – Nick Maybin, Chief Operating Officer.

Blackfridge will launch this Spring, enabling its institutional clients to issue, send, and receive the GBPT stablecoin.

Published On: January 31st, 2022 / Categories: press /

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