Firm to Build Out NY Digital Asset Ecosystem with Compliant Institutional Financial Services
BitOoda Digital, a subsidiary of BitOoda Holdings, announced that the New York Department of Financial Services (DFS) has granted the company a Virtual Currency License, also known as the BitLicense. With this approval, BitOoda Digital is now allowed to compliantly cover institutional clients in New York and also to establish its headquarters in the global financial center of New York City. BitOoda plans to build the leading sell-side research sales firm, which does not exist in the current digital asset market.
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“This represents a great example of the public and private sectors coming together to thoughtfully drive responsible innovation and will give greater confidence to digital asset investors, as our goal is to bring more institutional capital to rapidly grow the asset class in a fully-regulated manner.”
“We are grateful for the constructive and collaborative experience we had in working with the DFS team, and we’re thrilled to be able to serve New York cryptocurrency clients,” BitOoda CEO Tim Kelly stated. “This represents a great example of the public and private sectors coming together to thoughtfully drive responsible innovation and will give greater confidence to digital asset investors, as our goal is to bring more institutional capital to rapidly grow the asset class in a fully-regulated manner.”
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BitOoda COO and Chief Compliance Officer Tom Nath added, “We look forward to leveraging our latest regulatory approval to enhance transparency and professionalism in the New York digital asset marketplace, and to drive adoption through the expansion of compliant digital asset financial solutions available to the growing number of sophisticated institutional clients.”
BitOoda Digital’s brokerage services or the other offerings in BitOoda’s global platform, including derivatives brokerage, proprietary hedging solutions, investment banking, consulting, and research and advisory services.
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