The Bitcoin Suisse Group announced that its subsidiary, Bitcoin Suisse (International) Ltd., has received a Class F licence under the Digital Asset Business Act as well as a Class B registration under the Investment Business Act 2003 from the Bermuda Monetary Authority (BMA). The approvals were granted on a «pre-operational basis» and are subject to the fulfilment of «customary conditions» before services for professional and institutional clients can commence.

«The BMA approvals mark an important step in Bitcoin Suisse’s evolution into a global wealth management platform,» said Andrej Majcen, Co-Founder and Group CEO of Bitcoin Suisse.

Bitcoin Suisse (International) Ltd. is headquartered in Hamilton, Bermuda, and is a wholly owned subsidiary of BTCS Holding Ltd. The DABA licence covers the provision of regulated digital asset business services, while the IBA registration enables the provision of investment advisory and discretionary portfolio management services.

According to Bitcoin Suisse, Bermuda has established itself as one of the world’s leading regulatory jurisdictions for digital assets. With the introduction of the Digital Asset Business Act in 2018, Bermuda created one of the first comprehensive regulatory frameworks of its kind.

Bitcoin Suisse has already received an In-Principle Approval from the Financial Services Regulatory Authority of the Abu Dhabi Global Market.