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STS Digital Ltd. becomes one of a few companies to progress through every stage of the Bermuda Monetary Authority’s digital asset regulatory framework: from Test, to Modified, to Full Licence.
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HAMILTON, Bermuda, May 13, 2026 (GLOBE NEWSWIRE) — STS Digital Ltd. today announced that the Bermuda Monetary Authority (BMA) has granted the firm a Full “F” Licence under the Digital Asset Business Act 2018 (DABA), the highest level of authorisation available in the jurisdiction. With this approval, STS Digital has become one of a few companies to have completed the BMA’s entire T-M-F licensing pathway, a journey that began with its Test Licence in May 2023. STS Digital joins institutional names Circle, Coinbase International and Kraken’s parent, Payward among others who have received Full ‘F’ licences under DABA.
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Over the past three years, STS Digital has progressed through every stage of the BMA’s framework: operating under a Test Licence from May 2023 to April 2025, advancing to a Modified Licence in April 2025, and graduating to a Full “F” Licence on 30 April 2026. Only a select number of digital asset firms have completed this lifecycle in full. Bermuda is one of the most established jurisdictions in international finance. The BMA holds full Solvency II equivalence with the European Union — a status shared globally only with Switzerland — and Bermuda hosts the world’s third-largest insurance and reinsurance market, after London and New York. In 2018, the BMA built this institutional foundation by introducing the Digital Asset Business Act, one of the world’s first comprehensive regulatory frameworks for digital asset businesses.
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Executive Commentary
“Three years ago, we made a deliberate choice that wasn’t an obvious one. We could have set up in any number of jurisdictions with a faster, lighter path to market, but we wanted to build under a regulator with genuine institutional pedigree. Bermuda is not an offshore newcomer; it has been a tier-one financial centre for decades. Today’s announcement is validation of that decision. Being one of a limited number of firms to complete the BMA’s full T-M-F pathway is not just a regulatory milestone; it’s proof that the institutional-grade business we set out to build is the one the market actually wants to work with.”
– Maxime Seiler, Chief Executive Officer, STS Digital Ltd.
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“The Full Licence removes the last remaining ceiling on our ability to scale. With a substantial and growing institutional client base on the platform and our recent partnerships with BitGo and Kraken extending our reach, demand is well ahead of where we projected at the start of this journey. Our focus from here is clear: launch the next generation of products our clients have been asking for and continue deepening institutional distribution and counterparty relationships.”
– Lucy Reynolds, Chief Strategy Officer (CSO), STS Digital Ltd.
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“The granting of a Full ‘F’ Licence by the Bermuda Monetary Authority marks an important milestone in STS Digital’s evolution as an institutional digital asset business. Progressing through each stage of Bermuda’s regulatory framework — Test, Modified, and Full Licence — reflects years of operational development, governance enhancement, and regulatory engagement.
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This is a clear validation of the company’s long-term approach: building with institutional discipline, risk management, and regulatory credibility at its core.”
– Jeffrey Baron, Independent Director, STS Digital Ltd and COO of Coinbase International
English (US)