STS Digital expands services with Class T licence
STS Digital Ltd, a provider of digital asset trading solutions, has been granted a license to operate by the Bermuda Monetary Authority.
The Class T digital assets business license issued by the BMA allows STS Digital to offer a range of digital asset services including operating as a digital asset services vendor, providing custodial wallet services, operating as a digital asset exchange, and operating as a digital asset derivative exchange.
The company said the license enables STS Digital to provide digital services to institutional and high net worth clients in Bermuda and around the world.
"We are thrilled to receive the digital assets business license from the Bermuda Monetary Authority," said Gideon Hyams, chief executive officer of STS Digital.
"Bermuda is a leading jurisdiction for digital asset regulation, and we are excited to expand our offerings to clients in the country and around the world."
The company said obtaining a license in Bermuda is part of STS Digital's continued commitment to provide innovative digital asset trading solutions to its clients.
The license enables STS Digital to offer its clients access to the growing digital asset market, while also ensuring compliance with regulatory requirements, it said.
"We believe that digital assets are the future of finance, and we are committed to providing our clients with the tools they need to participate in this market," Mr Hyams said.
"Our digital assets license in Bermuda is a significant milestone in our journey to become a leading provider of digital asset trading solutions."
Mr Hyams is also chief investment officer at Ferguson Hyams Investment Management, a boutique Australian global investment manager that he cofounded with Luke Ferguson.
STS Digital said it provides a range of digital asset services, including custody, spot and derivatives trading in a wide range of coins, and market making.