Highlights
- GRVT has obtained a Class M license under Bermuda’s DABA framework and plans to expand beyond its current sandbox operations by upgrading to a full Class F license by mid-2025.
- The platform works with 55 institutional partners and 17 market makers to manage $4.2 billion in monthly contract volume, with mainnet launch scheduled within two weeks.
- As part of its global regulatory strategy, GRVT is pursuing compliance in multiple jurisdictions, including harmonizing the EU’s MiCA framework and partnering with ADGM.
Hybrid cryptocurrency trading platform GRVT has secured its position as the latest decentralized exchange (DEX) to win Bermuda regulatory approval.
On Friday, December 6, the company announced that it had secured a Class M digital asset business license from the Bermuda Monetary Authority (BMA), signaling a new era in decentralized finance (DeFi) as it drives broader mainstream and institutional adoption.
Regulatory milestones and next steps
The new regulatory milestone highlights GRVT’s commitment to bridging the gap between decentralized and traditional finance. By integrating compliance and innovation, the exchange aims to build trust with institutional investors who are wary of participating in unregulated DeFi platforms.
The company said its Class M license was issued under the Bermuda Digital Asset Business Act (DABA), allowing it to operate in a regulated environment while it prepares for a full Class F licence.
GRVT plans to become a fully licensed DEX in Bermuda by mid-2025. According to the announcement, the upgrade will allow the company to expand its services to customers around the world beyond its current sandbox operations.
Commenting on this achievement, GRVT co-founder and CEO Hong Ye said the license signals the company’s commitment to removing the technological barriers that separate the Web3 ecosystem from the traditional world of financial economics.
“Compliance is a cornerstone of our mission to integrate decentralized finance into the global financial system. “This license demonstrates our commitment to building a safe, transparent and accessible financial ecosystem that bridges the gap between innovation and trust,” he said.
Integration of centralized and decentralized finance
The acquisition of this license comes after 15 months of rigorous preparation while GRVT was undergoing mainnet internal testing.
The platform plans to launch its mainnet to all users within two weeks, allowing trading volume to be tracked through external data providers.
GRVT currently boasts monthly contract volume of $4.2 billion, working with 55 institutional partners and 17 market makers.
GRVT’s regulatory status solidifies its role in advancing the centralized decentralized finance (CeDeFi) movement, which combines the reliability of traditional financial systems with the efficiency of decentralized technologies. The company envisions an integrated ecosystem where assets can flow seamlessly between centralized and decentralized platforms.
Bermuda Premier E. David Burt credited the company’s successful license registration to the country’s comprehensive regulatory framework.
“Bermuda is proud to be leading the way in providing clear and supportive regulation for digital finance businesses. GRVT’s success demonstrates the strength of our approach to fostering innovation,” he said.
Meanwhile, GRVT is actively cooperating with regulators in other jurisdictions in addition to Bermuda. The company is aligning its practices with the European Union’s Markets for Cryptocurrency Assets (MiCA) framework and is working with the Abu Dhabi Global Markets (ADGM) to secure licenses in key financial hubs.
These initiatives reflect GRVT’s ambition to lead the global DeFi movement by unifying regulatory compliance across multiple geographies to ensure services meet the highest standards for both institutions and individual users.
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Chimamanda is a cryptocurrency enthusiast and experienced writer focused on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in emerging economies. She combines her passion for blockchain technology with her love of travel and food to bring a fresh and engaging perspective to her work.
