FTX-owned derivatives exchange ZUBR has received approval from the Gibraltar Financial Services Commission (GFSC) as a DLT provider.

The exchange’s Gibraltar-based owner and operator, Zubr Exchange, is now fully licensed under Gibraltar’s crypto regulatory framework.FTX acquired the exchange earlier this year and has started integrating Zubr Exchange’s team.The GFSC has offered DLT licenses since the beginning of 2018.“Securing this DLT provider license for our subsidiary is a key step toward our goal of creating a trustworthy and compliant exchange group that can be used by investors of all types around the globe,” said Sam Bankman-Fried, FTX’s CEO, in a statement.In March 2020, ZUBR received in-principle approval from the GFSC as a DLT provider and began trading. The final approval was conditional on the exchange addressing some of the regulator’s feedback.

Read more: It’s Tough Getting Approved in Gibraltar, Says Green-Lighted Crypto Derivatives Exchange