CeFi and DeFi ecosystems do not need to be divided as regulation is well-positioned to help DEXs improve universal standards, the GRVT CEO said.
Hybrid cryptocurrency exchange GRVT is the latest industry firm to secure regulatory approval from the Bermuda Monetary Authority (BMA).
GRVT has obtained a Class Modified (M) Digital Asset Business License from the BMA, allowing the exchange to operate as a regulated decentralized exchange (DEX), GRVT announced to Cointelegraph on Dec. 6.
After receiving the initial Class M license under the Bermuda Digital Asset Business Act (DABA), GRVT targets securing the Class Full (F) license by mid-2025, expanding its operations further from a sandbox environment, GRVT co-founder and CEO Hong Yea said.
