Gravity becomes first DEX to receive Class M digital asset license from Bermuda Monetary Authority

Hybrid cryptocurrency exchange Gravity (GRVT) has obtained a Class Modified (M) Digital Asset Business License from the Bermuda Monetary Authority (BMA), allowing it to operate as a regulated decentralized exchange (DEX), according to Cointelegraph. With over 55 institutional partners and 17 market makers, GRVT aims to bridge decentralized finance (DeFi) and centralized finance (CeFi). The company believes that regulation and decentralization can coexist to create an integrated financial ecosystem.