# eToro's crypto subsidiary eToroX receives Gibraltar DLT Licence

By Shampa Mani

Canonical URL: https://www.tokenpost.com/news/business/953
Published: 2018-12-20T09:14:20.000Z
Updated: 2018-12-20T09:15:14.000Z
Section: Business

> The Gibraltar Financial Services Commission (GFSC) has granted a distributed ledger technology (DLT) licence to eToroX, a digital asset subsidiary of global investment platform eToro.

The Gibraltar Financial Services Commission (GFSC) has granted a distributed ledger technology (DLT) licence to [eToroX](<https://etorox.com/>), a digital asset subsidiary of global investment platform [eToro](<https://www.etoro.com/>).

Formed this year, eToroX is aimed at furthering eToro's vision around blockchain and the development of cryptoassets. eToro is a founding member of CryptoUK, one of the world's first self-regulatory body for cryptoasset companies.

eToroX currently manages eToro's newly launched wallet and will run the forthcoming exchange. According to the [official release](<https://www.prnewswire.com/news-releases/etorox-granted-distributed-ledger-technology-licence-830280304.html>), the wallet is a new product which is being rolled out on a phased basis both in terms of geographic reach and functionality.

"With the launch of our wallet, we can for the first time provide clients with a means of transferring cryptoassets away from the eToro platform. With the eToroX wallet, customers are able to send and receive crypto via the blockchain,” Yoni Assia, Co-founder and CEO of eToro, said.

“We are proud to say that we are amongst the first companies in the world to obtain a licence for cryptoassets and one of very few regulated companies in the crypto space.”

The GFSC’s regulatory framework on DLT [went into effect](<https://www.econotimes.com/GFSCs-DLT-Regulatory-Framework-goes-into-effect-in-Gibraltar-1078937>) on January 01, 2018, making Gibraltar the first jurisdiction to introduce regulations around this innovative technology. Other crypto and blockchain [companies](<https://tokenpost.com/Crypto-exchange-Huobi-receives-Gibraltar-DLT-License-800>) that have received the DLT license so far include Coinfloor, COVESTING, Huobi, and Gibraltar Blockchain Exchange (GBX).

“The GFSC has been forward-thinking in developing this framework and we hope it serves as a blueprint for other markets. The licence process has been thorough but by working closely with the GFSC we are pleased to say that we now have a licence and look forward to supporting the growth of tokenized assets,” Doron Rosenblum, Managing Director of eToroX, said.

## Links in this article

- [eToroX](https://etorox.com/)
- [eToro](https://www.etoro.com/)
- [official release](https://www.prnewswire.com/news-releases/etorox-granted-distributed-ledger-technology-licence-830280304.html)
- [went into effect](https://www.econotimes.com/GFSCs-DLT-Regulatory-Framework-goes-into-effect-in-Gibraltar-1078937)
- [companies](https://tokenpost.com/Crypto-exchange-Huobi-receives-Gibraltar-DLT-License-800)