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Elwood Capital Management Limited, a leading digital asset trading firm delivering execution services via its over-the-counter (OTC) capabilities, has recently announced it has successfully obtained an Investment Business licence from the Jersey Financial Services Commission (JFSC).
This announcement is the first Investment Business licence granted to a native digital asset business in Jersey. Unlike other jurisdictions, rather than introducing crypto-specific legislation, digital assets are treated as a separate asset class, the JFSC regulates businesses within the existing financial services regulation and AML/CFT regime, ensuring it rigorously evaluates and monitors firms operating in the Jersey financial service market.
The new licence allows Elwood Capital Management Limited to provide trading in security tokens and derivatives, in addition to non-securities, under its Virtual Asset Service Provider ('VASP') Schedule 2 Registration. This enhanced capability allows Elwood to cater to the growing demand from institutional investors looking to allocate a portion of their portfolios to digital assets.
Commenting on last week's announcement, Oliver Butlin, Director & Global Head of Trading, said, "We are incredibly proud of the Elwood team working with the Jersey Financial Services Commission to obtain this Investment Business licence. This step is an essential milestone in bringing the same regulatory expectations of our clients in traditional asset classes to digital assets."
With the ever-increasing institutional demand for digital assets, Elwood's commitment to regulatory compliance and expanding its service offerings is expected to further enhance its position in the rapidly evolving market.
