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Xapo Bank

Gibraltar: a trusted global financial hub with a history of stability

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Gibraltar is a self-governing British Overseas Territory renowned for its thriving and diverse economy, modern lifestyle and robust financial structures. One of the foremost financial jurisdictions in the world, Gibraltar has an established reputation for stability, credibility, efficiency and prudence. 

Robust regulatory and financial system

Gibraltar’s regulatory, supervisory and anti-money laundering framework align with United Kingdom and EU standards, which are one of the most stringent in  the world. 

Gibraltar's financial services industry is regulated by the Gibraltar Financial Services Commission (GFSC). The industry operates in accordance with global standards created by the Organisation for Economic Co-operation and Development (OECD), International Monetary Fund (IMF) and Financial Action Task Force (FATF). The GFSC’s regulatory role covers a wide range of service providers including banks, payment services providers, auditors, trustees and investment firms. 

In addition, there is the Gibraltar Deposit Guarantee Scheme, which protects bank depositors by up to EUR 100,000 in the unlikely event that a Gibraltar bank fails. This is the same level of protection offered by banks in the United Kingdom and the European Economic Area. 

Strong economy, solid as the Rock

One of the most recognizable and famous icons of Gibraltar is the Rock of Gibraltar, a limestone promontory that is home to prehistoric caves, wild apes and breathtaking sea views. Over time, the Rock has become a symbol of the economic stability and financial security that the territory itself represents. 

It is estimated that more than 10 million people visit Gibraltar each year. An amazing mediterranean weather, consistent economic growth, competitive taxation and ease of doing business are just a few of what attracts them. 

As a solid financial and business hub, Gibraltar plays host to high net worth individuals from around the world and companies in diverse sectors including financial services, shipping trade, online gambling and tourism.

Innovative leader in decentralised finance 

In 2018, Gibraltar rolled out its Distributed Ledger Technology (DLT) Regulatory Framework. This was the world's first purpose-built regulatory framework for companies using blockchain or DLT for the storage and transfer of value belonging to others. This represented an unprecedented move in the regulation of the activities of Virtual Asset Service Providers (VASPS) to safeguard the interests of consumers, firmly establishing Gibraltar’s leadership in the blockchain regulatory space. 

The DLT framework defined a rigorous process for applying for licences and compliance with the highest regulatory standards, such that VASPs registered in Gibraltar are held to the same level of regulatory supervision as banks and other financial services firms. 

With all of the above, it is no surprise that Gibraltar holds high appeal as a safe and secure banking jurisdiction for individuals and companies. 

At Xapo Bank, we are proud to call Gibraltar home. 

Our banking and VASP licences are issued and regulated by the GFSC. Which means when you join Xapo Bank, you can enjoy peace of mind knowing that we are protecting and growing your wealth from this trusted, highly secured and forward-thinking jurisdiction. 

Disclaimer

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