PANews reported on December 6 that according to Cointelegraph, the hybrid crypto exchange GRVT is the latest industry company to obtain regulatory approval from the Bermuda Monetary Authority (BMA). GRVT announced today that it has obtained a modified (M) digital asset business license from the BMA, allowing the exchange to operate as a regulated decentralized exchange (DEX).

GRVT co-founder and CEO Hong Yea said that after obtaining an initial Class M license under Bermuda’s Digital Asset Business Act (DABA), GRVT aims to obtain a full Class (F) license by mid-2025 and further expand its operations within the sandbox environment.