Financial services industry attracts more crypto investors
BVI Finance recently participated in the Dubai Fintech Summit 2023, where the organisation sought to attract more business in virtual assets and fintech industries.
Virtual assets are more popularly known as cryptocurrencies, while FinTech (financial technology) refers to technology that is used to support or enable banking and financial services.
According to BVI Finance, virtual assets and fintech are two areas that have grown significantly in recent years as the territory placed more focus on innovation, security, and regulatory compliance.
The BVI is also home to a number of virtual asset and fintech businesses, as well as a number of high-net-worth individuals who have chosen the BVI as their preferred jurisdiction for wealth management and asset protection.
That’s why the organisation used the Dubai Fintech Summit 2023 to promote the BVI as a viable jurisdiction for more business in these areas.
“Our participation in the Dubai Fintech Summit 2023 is an excellent opportunity to showcase the British Virgin Islands as a leading international finance centre for virtual assets and fintech,” said Elise Donovan, CEO of BVI Finance. “We’re excited to connect with industry leaders, particularly in the fintech space because it’s always evolving, and the BVI is committed to staying abreast of these changing trends.”
BVI Finance said they shared with stakeholders and financial services the benefits of virtual assets and doing business in the BVI.
They also showcased the territory’s robust regulatory framework, favourable tax environment, and experienced financial services industry professionals as key factors that make the jurisdiction attractive for businesses operating in the virtual assets and fintech space.
BVI Finance has the responsibility to promote the jurisdiction as a leading center for international business and finance. With one of the biggest financial services industries in the world, a recent report by UK-based research and consultancy firm, Pragmatix Advisory, found that investments mediated by BVI business companies support around 2.3 million jobs globally and generate an extra US$14 billion each year in taxes for governments worldwide.