GRVT Secures Regulatory Approval From Bermuda Financial Authority

According to PANews, hybrid cryptocurrency exchange GRVT has recently received regulatory approval from the Bermuda Monetary Authority (BMA). The company announced that it has been granted a modified (M) digital asset business license, enabling it to operate as a regulated decentralized exchange (DEX). GRVT's co-founder and CEO, Hong Yea, stated that after obtaining the initial M-class license under the Bermuda Digital Asset Business Act (DABA), the exchange aims to secure a full (F) class license by mid-2025. The company plans to further expand its operations within a sandbox environment, which allows for controlled testing and development of new business models and technologies. This strategic move is part of GRVT's broader efforts to enhance its regulatory compliance and operational capabilities in the evolving digital asset landscape.