CrossTower’s founders and leaders have immense success working within traditional asset classes within financial services and have now set their sights on working towards the domestication and mass adoption of the digital asset space. 

On October 9, 2020 CrossTower was able to continue to pursue their goal with the approval of CrossTower Bermuda Ltd.’s “Class M” license, granted by the Bermuda Monetary Authority (BMA) under the Digital Asset Business Act (DABA). This initial 6 month “Class M” license has positioned CrossTower as one of the first major financial institutions to operate as a digital asset trading platform overseas in Bermuda.

The Bermuda license acquisition bodes well for their mission to bring digital asset investments to the mainstream. The company’s enthusiasm in the acquisition of Bermuda comes from the understanding that, “it is one of the only jurisdictions who has really developed a unique and predictable regulatory framework,” said President Kristin Boggiano.

Bermuda’s regulatory framework is exciting for the digital asset industry as a whole according to CrossTower’s CEO Kapil Rathi because, “in order to create more products on a new asset class you constantly have to innovate. And innovation requires a framework for regulation.” The “Class M” license has allowed CrossTower Bermuda Ltd. to obtain stable regulatory certainty while creating renowned financial instruments to crypto markets internationally.

In this Bermuda Broadcasting News video both CrossTower Co-Founders, Kristin Boggiano and Kapil Rathi, engage in thoughtful discussion around Bermuda’s importance to the Digital Asset world:

As CrossTower builds out our sophisticated financial infrastructure, regulation will always be of utmost importance. Bermuda’s regulatory framework ensures not just a trusted spot market, but a futures market, a derivatives market, and other needs in the ecosystem that will bring liquidity and predictability to that asset class. This will continue to give institutions the confidence to interact with the Digital Asset industry.

With experience in the cutting edge of the evolution of the financial industry within equity, derivatives, and regulation, CrossTower and its team have positioned themselves to be the optimal medium of exchange for customer protection. It is CrossTower’s responsibility as a market infrastructure provider to build that confidence.

Founded in 2019, CrossTower is a digital assets capital markets firm founded by financial industry veterans. The firm is on a mission to bring digital asset trading and investing to institutional and professional traders.

CEO and Co-Founder Kapil Rathi has built a career working within early stage electronic trading pioneering within the equity and derivatives industry. He has worked senior roles at the New York Stock Exchange, Bats Global Markets, Independent Securities Evaluators (ISE) (now acquired by NASDAQ), and was the Chief Operating Officer at AlphaPoint. Kapil has led teams of product experts in launching options exchanges and building matching engine functionality.

President Kristin Boggiano is a regulatory lawyer who has over 20 years of experience working within capital markets. Previously she has held senior roles at Guggenheim Partners and Schulte Roth & Zabel LLP, as well as working as the Chief Strategy & Legal Officer at AlphaPoint.

CrossTower Inc. provides this content for general information purposes, to better inform you on your digital asset investment journey. We do not provide investment recommendations or provide tax advice. Please consult your investment professional or tax advisor if you require assistance in these areas.

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