PANews reported on May 20 that BIT, a digital asset financial services platform, announced that its subsidiary Matrixport Technologies Ltd has been approved by the British Virgin Islands Financial Services Commission (BVI FSC) to obtain a Type 2 investment business license (arranging investment transactions) under the Securities and Investment Business Act (SIBA) and has completed VASP registration under the Virtual Asset Service Providers Act (VASP Act).

Under the approved scope, Matrixport Technologies Ltd may conduct regulated investment business activities involving the arrangement of investment transactions under the BVI SIBA, support institutional and professional market business and other financial services activities within the scope of the license; and conduct regulated virtual asset business under the BVI VASP framework.

BIT stated that this approval, which came after nearly three years of regulatory communication and preparation, is an important milestone in the company's process of building a global compliant digital asset platform.