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Crypto derivatives exchange Quedex gets a license from Gibraltar regulator

July 31, 2019, 9:30AM EDT

Gibraltar-based cryptocurrency derivatives exchange Quedex has received a Distributed Ledger Technology (DLT) Providers license from the island's financial regulator.

It took 15 months for the exchange for getting the license from the Gibraltar Financial Services Commission (GFSC), Quedex announced Wednesday. With the permit in place, "there is now a way to hedge against cryptocurrency volatility in a regulated environment," said the exchange.

Quedex offers futures and options (F&O) contracts on cryptocurrencies, and serves mainly to institutional investors, including miners, hedgers and active traders, per the announcement.

The regulator announced the DLT regulatory framework in January 2018, making it mandatory for firms using blockchain to "store or transmit value belonging to others" to apply for a license.

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