PRESS RELEASE
No: 414/2024
Date: 7th June 2024
Minister Feetham visits DLT Firm
Minister for Trade, Industry and Justice, Nigel Feetham, and senior members of Gibraltar Finance, visited Damex.io’s Gibraltar offices to meet with Damex’s senior management team at the company’s invitation and as part of the Ministry’s outreach programme.
Damex was founded in 2017 by a Gibraltar founding team as Digital Asset Management Limited, which was regulated under Gibraltar’s world leading DLT framework in 2019. The business has become a leading contributor in Gibraltar’s DLT, crypto and digital asset industry and is Gibraltar’s largest DLT employer.
Damex had the opportunity to discuss with Minister Feetham its main services offering as a digital assets broker/dealer from Gibraltar and how the business has scaled from its humble beginnings. Damex also had the opportunity to discuss its further product and services that are offered and available from outside of Gibraltar, including its Damex retail digital asset and debit card application as well as its business-to-business payments and E-money offerings, available in Europe and internationally though not yet in Gibraltar.
In particular, Damex informed the Ministry of its recent acquisitions in the Isle of Man and partnership with the only British Isles regulated Pound Sterling stablecoin, Poundtoken (1GBP), and the various opportunities that come with this.
The Minister and Damex were able to discuss the Government’s and the private sector’s mutual interests in investing in the Gibraltar community. Damex management explained to Minister Feetham the various initiatives to foster young local talent and entrepreneurship in Gibraltar, having offered a number of young school-leavers early internship and employment opportunities in the business. Further, Minister Feetham learned of the company’s contributions to the local community through its donations and investments in local sports.
CEO Sam Buxton, commented: “We were delighted to welcome Minister Feetham and his team to our offices to discuss our services and story to date. Gibraltar has been our home since our beginnings and we are proud to keep contributing and building in Gibraltar.”
The Minister for Trade, Industry and Justice, Nigel Feetham KC MP, commented: “I am grateful for this invitation to myself and my senior team. I have always held the view that successful jurisdictions must encourage local entrepreneurship to ensure the permanence of sectors within the economy. Damex is a prime example of that within the DLT and digital asset space in Gibraltar.”
ENDS
HM Government of Gibraltar • 6 Convent Place • Gibraltar GX11 1AA t +350 20070071 e pressoffice @gibraltar.gov.gi w gibraltar.gov.gi