New service enables customers to borrow funds against their crypto holdings via a licenced lending service
Gibraltar – 1 December 2020 – HM Government of Gibraltar has welcomed the news that CEX.IO Limited, a leading international cryptocurrency exchange, has established a new service offering in Gibraltar, the CEX.IO Loan Service.
The Hon Albert Isola, Minister for Digital and Financial Services, said, “I am pleased to note that CEX.IO Limited have increased the range of services available to the cryptocurrency community with this new venture. HM Government of Gibraltar will continue to support the development of Gibraltar’s growing technology community whenever it can in fulfilment of our commitment to the continuous development and diversification of the blockchain industry.”
Anton Chashchin, Commercial Director for the CEX.IO LOAN service, said, “Our new service makes cryptocurrency-backed loans accessible for participants of the digital asset market.”
CEX.IO Limited are advised by Anthony Provasoli, a partner at Gibraltar-based Hassans International Law Firm Limited.
The Hon Albert Isola MP
Minister for Digital and Financial Services, HM Government of Gibraltar
The Hon Albert Isola MP is Gibraltar’s Minister for Digital and Financial Services with the primary responsibility of raising Gibraltar’s profile as a well-regulated commercial centre particularly in the areas for which he has specific responsibility which include financial services, digital technology innovation and online gaming.
Minister Isola previously served as Gibraltar’s Minister for Commerce where he played a central role in driving the creation of the world’s first purpose-built DLT regulatory framework, which became law in January 2018 for firms using blockchain to store or transfer value belonging to others.
He has been a Minister in the Government since his by-election win for Gibraltar’s governing parties, the GSLP/Liberal Alliance, on 4 July 2013. Minister Isola had previously been a GSLP member of the Opposition in the then ‘House of Assembly’ (‘Parliament’ under the new constitution) from 1996 to 2000. Prior to re-entering Parliament, he had been a Partner at a major Gibraltar international law firm ISOLAS since 1985.
During his extensive legal career, Minister Isola gained high-level experience in all aspects of property acquisition, development, and financing as well as financial services. He also regularly acted as an adviser to the Financial Services Commission.
Minister Isola was educated at Stonyhurst College, Lancashire (1973-1980) and read Law at Kingston University (1980-1983).
A British Overseas Territory, Gibraltar is a self-governing and self-financing democracy that has established itself globally as a reliable centre for the blockchain and digital assets industry. In January 2018, Gibraltar became the very first jurisdiction globally to introduce legislation around Distributed-Ledger-Technology (DLT), and has since asserted its position as a leading blockchain and virtual assets hub. With Gibraltar’s core values of regulation, reputation, and speed to market at the foundation of its efforts within the blockchain industry, Gibraltar is now globally renowned for its commitment to creating a sustainable and secure regulatory framework for DLT, as well as being one of the leading proponents in the advancement of the technology.
For more information, please visit https://www.gibraltarfinance.gi/
Eleanor McGovern – Consultant
P: +353 87 933 7769