Delchain Recognized as a Digital Asset Company Under the Bahamas DARE Act
Delchain, a leading digital asset financial institution, today announces the registration of its license as a business under the Bahamas Digital Assets and Registered Exchange (DARE) Act. The DARE law provides a comprehensive regulatory framework guided by rules and codes of practice, enabling clients to transact digital assets in an organized and supervised environment.
Delchain offers a regulated digital asset and financial services platform for institutional investors, corporates and HNWIs that combines access to multi-currency fiat banking services with a full suite of secure and sophisticated digital asset services , including custody, trading, staking and advisory initial offer.
With Delchain’s approval under the Bahamian Securities Commission’s DARE Act, the company is looking to expand its offerings in line with the continued growth and development seen in the digital asset industry.
“There aren’t many providers that have the breadth and depth of digital asset services under one roof like Delchain, which is a big part of the value we bring to our customers. Delchain’s registration under the DARE Act helps reinforce the commitment we have made to our customers to grow our offerings and add more value to their experience, in a transparent and compliant manner,” said Bruno Macchialli, CEO of Delchain.
The cryptocurrency exchange FTX also made a similar move in September last year with their registration under the DARE Act. News of the registration of two cryptocurrency leaders with the Bahamian Securities Commission in the past few months shows that the country is gaining a foothold as a cryptocurrency hub.
These records also signal a good relationship between local regulators and exchanges in the Bahamas, underpinned by the DARE Act. If clients know that exchanges will be compliant with local regulators, they can have confidence when transacting.
The total number of unique cryptocurrency users worldwide has increased by 189% in 2020, the total amount of accounts increasing by 37%. The DARE Act hopes to leverage these recent developments in cryptocurrency to protect market integrity and curb illicit activity as the market grows.
“The Bahamas Digital Assets and Registered Exchanges Act (DARE) is a real game-changer and is poised to attract global fintech innovators and entrepreneurs to the Bahamas, as they seek to cash in on the credibility to be permitted under a comprehensive regulatory regime. “said Bruno Macchialli.
Delchain is a licensed digital asset and financial services platform for institutional investors, corporates and HNWIs combining multi-currency fiat banking with a full suite of secure and sophisticated digital asset services, including custody , negotiation, staking and initial offer advice.
Delchain Limited (Delchain) is a registered corporate and financial services provider under the Bahamas Digital Assets and Registered Exchanges (DARE) Act, regulated by the Bahamas Securities Commission. Delchain is part of the Deltec International group with offices in the Bahamas and Singapore.
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