Coinfloor marks DLT landmark

Coinfloor Exchange Gibraltar celebrated becoming the first recipient of a Distributed Ledger Technology licence in Gibraltar.

Coinfloor is a London-based bitcoin exchange established in early 2013 that has a team in Gibraltar operating under Coinfloor Exchange Gibraltar.

Obi Nwosu, CEO and Founder of Coinfloor, arrived on the Rock to mark the event at the Sunborn.

He remembered how over a year ago the process began when he heard about the DLT regulation in Gibraltar.

A few weeks later flew to Gibraltar for a whirlwind set of meetings and now the company is fully licenced.

“It wasn’t easy and it shouldn’t have been easy,” he said.

“It was a hard slog but we got to a point where a few weeks ago we became the first fully regulated DLT provider in Gibraltar.”

“It appears the adventure is only beginning. As you probably seen over the last few days the cryptocurrency space is incredibly volatile. Not just from an economic and financial point of view, it’s also incredibly innovative.”

He added that what is needed is a jurisdiction with a set of people who are able to help support innovation and take it to its next objective.

“We are blessed and fortunate to be part of this journey,” Mr Nwosu said.

“More will come into this space and we welcome them.”