“Xapo have now established themselves in Gibraltar as a fully-fledged bank,” Gibraltar’s Finance Minister Albert Isola told Decrypt. Xapo already holds an e-money license in Gibraltar, is in the final stage of being granted a fully accredited institution license.

Gibraltar has long been ahead of the curve within the digital assets space; it introduced legislation to regulate digital ledger technology at the beginning of 2018 and has now granted over a dozen operating licenses to crypto companies, including exchanges eToro, Huobi, Bitso, and LMAX.