DWF Labs Expands Regulated Crypto Operations with BVI VASP Licence
DWF Labs has expanded its regulated crypto operations after securing a Virtual Asset Service Provider (VASP) licence in the British Virgin Islands.
The approval from the BVI Financial Services Commission allows DWF Labs to exchange virtual assets and provide financial services connected with token issuances, meeting governance, compliance, risk-management, and anti-money-laundering requirements.
DWF plans to use the regulated entity to offer institutional clients over-the-counter (OTC) trading and market-making services, including spot transactions across cryptocurrencies and stablecoins.
The British Virgin Islands has become a popular jurisdiction for digital-asset trading firms, with Kraken's Payward Oceanic entity receiving BVI authorization covering exchange, custody, and transfers in June. Other firms like Nonco and VersiFi also operate under the same regime.