Damex Business

Contents

Introduction

Digital Asset Management”s journey started 5 months ago after months of work and deliberation. In that time we have made new relationships with you. As clients, partners, contacts and beyond. In that time we have also expanded our team, our offering and more importantly have made significant progress in positioning ourselves to be one of Gibraltar”s first regulated institutions providing Digital Asset custodianship, market advisory and management services. This week we will be filing our regulatory application with the Gibraltar Financial Services Commission as a Distributed Ledger Technology provider.

Let us update you briefly.

1. Security & Processes Overhaul

We have spent our time establishing robust processes to maximise the security and safe-keeping of Digital Assets in cold storage held by DAM. This includes reviewing our vault facilities, increasing cyber security and setting ourselves on course for ISO:27001 compliance, enhancing layers of encryption, secure processes, policies and the acquisition of new hardware to facilitate the on-boarding demands that are being experienced from the Retail and Institutional market.

In addition to Digital Assets being held in bank-grade secure facilities we have also increased the robustness of our protections. We have also set up a security, vault and technology committee including independent advisors where we meet monthly, or more frequently as needed, to review various matters that the committee is tasked with. We also have aspects of our security reviewed on a weekly basis and receive manual and virtual penetration testing of our facilities.

We have also extensively reviewed all elements of internal processes and best practices on execution and third party risk.

2. Advisory

Our work over recent months has also included complimenting existing skills within the Company. As a result, we are pleased to announce that we have secured the addition of a non-executive director who adds a depth of ability and experience in financial services to our firm. We are also pleased to announce that we have secured the assistance of various advisors, internationally and in Gibraltar, who are tasked with assisting and scrutinising the firm”s ongoing practices in respect of its legal, compliance, investment, financial services and business development matters.

3. Partnerships

We have entered into relationships and been in discussions with various partners and counterparties to enhance our core offering and facilitate services ancillary to our key offerings. This includes, due to the increasing institutional demand of funds and ICO projects, the possibility of securing further purpose-built facilities located in Gibraltar.

We have been operational since December 2017 and have received a high volume of enquiries whilst improving our business and processes as precautions of our regulatory alignment. If you wish to enquire about our services outlined below, please reach out.

by Philip Vasquez