rewrite this title GRVT Secures Class M License to Revolutionize DeFi Compliance | Coin Media

Gravity (GRVT), a prominent hybrid cryptocurrency exchange, has officially become the first decentralized exchange (DEX) to be approved by regulators. The platform has received the Class M Digital Asset Business License from the Bermuda Monetary Authority (BMA) under the Bermuda Digital Asset Business Act (DABA). The license enables GRVT to perform its services as a digital asset derivatives exchange provider under altered terms and complying with pre-operational standards.

The Class M license establishes GRVT as the pioneer of DeFi regulation, offering an architectural approach to compliance for institutions. The platform intends to transition to a Full Class license, which will further the company’s aim to grow and provide relevant services to corporate and institutional clients. The company has also ensured that GRVT operates within Bermuda’s well-established legal system, demonstrating strong compliance with decentralized technology integration.

GRVT Advancing Institutional Trust Through Regulatory Compliance

The DeFi sector has always experienced difficulties in attracting institutional investments due to the lack of regulations. GRVT intends to gain approval from the regulators and persuade trust-based financial institutions to collaborate with the company.

The licensing of GRVT was revealed by the company’s co-founder and CEO, Hong Yea, who pointed to Bermuda’s regulation of digital assets as critical to its licensing process. Speaking of Bermuda, the Honorable E. David Burt, Premier of Bermuda, said he trusted that the jurisdiction will be able to support new businesses and regulate the industry. The BDA and legal advisors Walkers (Bermuda) Ltd. assisted GRVT throughout the application process with a focus on Bermuda as a leading digital asset jurisdiction.

Global Expansion and Future Licensing Goals

Nevertheless, GRVT has focused on more regulatory successes outside Bermuda. The platform collaborates with other jurisdictions, such as the European Union and Abu Dhabi, to obtain licenses under structures like the Markets in Crypto-Assets (MiCA) and Abu Dhabi Global Market (ADGM).

With its hybrid model combining off-chain order matching and on-chain settlement, GRVT aims to provide high-speed transaction capabilities while ensuring transparency. The company’s long-term vision is to become a cornerstone of the global financial ecosystem by offering scalable and compliant financial services.