In 2019, a significant milestone was achieved. MetaVault was registered as a cryptocurrency and digital asset custodian under the Designated Business (Registration & Oversight) Act of 2015 (the “DBA”). This registration was facilitated by SolutionsHub, a leading provider of licensing and regulatory solutions.
This registration was not just a formality. It was a beacon, signalling to brokers, insurers, investors, and institutional customers that MetaVault was a business under the supervision of a financial services regulator. It provided assurance that MetaVault operated in a safe, supportive, zero-tax jurisdiction with a clean international reputation.
The impact of this registration was profound. It not only boosted MetaVault’s credibility but also paved the way for other businesses in the crypto custody space. MetaVault’s journey served as a blueprint, demonstrating how to navigate the complex regulatory landscape and achieve recognition as a trusted custodian of digital assets.
The Isle of Man, known for its supportive stance towards crypto businesses, became a preferred jurisdiction for other custodians to register, following MetaVault’s path. The registration process, while rigorous, was made smoother with the expert guidance of the SolutionsHub team.
MetaVault’s registration was a significant step forward in the crypto custody industry. It not only enhanced MetaVault’s standing but also showed the way for other businesses to follow. The Isle of Man continues to be a supportive jurisdiction for crypto businesses, and MetaVault’s story serves as a testament to the potential of crypto custody in this evolving digital landscape.