Orbital gets permissions from Gibraltar FSC as DLT provider and EMI

Tuesday 24 October 2023 14:34 CET | News

UK-based crypto and traditional finance platform Orbital has secured permissions from the Gibraltar Financial Services Commission (GFSC) for DLT and EMI operations.



Orbital has announced it received approvals from the GFSC to operate two separate entities, namely Pay Perform Digital Limited (PPDL) as a Distributed Ledger Technology (DLT) Provider and Pay Perform Gibraltar Limited (PPGL) as Electronic Money Issuer (EMI) in the jurisdiction. Orbital is one of the first groups to receive both DLT and EMI permissions in this jurisdiction.

Orbital has secured permissions from the Gibraltar Financial Services Commission (GFSC) for DLT and EMI operations.

Orbital’s new offerings in Gibraltar

The Electronic Money Issuer (EMI) permission enables Orbital (specifically PPGL) to offer customers e-money issuance, distribution, and redemption services in the jurisdiction of Gibraltar. PPGL will start its operations by offering e-money accounts in GBP. This means that users can exchange e-money within the payments system, and store e-money in their wallets indefinitely. Both PPGL and PPDL is under the ongoing supervision of the GFSC, which imposes regulatory principles and requirements that must be adhered to in order to ensure compliance.

Orbital Group, based in London, Tallinn, and Gibraltar, provides a range of traditional payment and global FX solutions to corporate clients exclusively and sets itself apart by also offering licensed crypto payment services, focusing on the business use cases for stablecoins in cross-border payments.

Building upon previous successes

Following a first institutional capital raise of GBP 5 million led by Golden Record Ventures, and a lucrative month in August 2023 in which it processed GBP 250 million of combined payments across the UK and Estonian group entities, the addition of DLT and EMI permissions mark another major milestone for Orbital.

Orbital already has authorised entities within its group, namely Pay Perform Limited in the UK authorised by the Financial Conduct Authority as a payment institution, and Pay Perform OÜ licensed as a virtual currency service provider by the Financial Intelligence Unit in Estonia.

Gibraltar’s foray into the digital asset ecosystem

In 2018, Gibraltar became one of the world’s first jurisdiction to enact purpose-built legislation in support of distributed ledger technology. The DLT legislation provides a framework for local companies to operate a blockchain-focused business securely and in compliance with industry best practices.

Permissions are granted by the Gibraltar Financial Services Commission (GFSC) based on the ten core principles of the Distributed Ledger Technology Regulatory Framework, including fair communication with customers, working with honesty and integrity, safeguarding of customers’ assets, and effective corporate governance.

Combined fiat and blockchain payment

Orbital offers a seamless integration of fiat and crypto business accounts for global enterprises, enabling stablecoin and traditional currency transactions. Their APIs facilitate stablecoin payments and allow businesses to accept cryptocurrencies, convert them to fiat, and settle into IBAN accounts rapidly.

This innovation provides instant access to emerging markets without a physical presence or local bank account, making Orbital valuable for global corporations. The company anticipates a growing demand for unified solutions catering to both fiat and blockchain payments, leveraging its expertise in traditional finance and cryptocurrency.


Pay Perform OÜ and Pay Perform Digital Limited are not registered as crypto asset service providers by the Financial Conduct Authority and therefore their services pertaining to crypto assets are not available in the UK. Orbital's crypto-related services are directed and intended for qualifying non-retail persons outside the UK.

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Keywords: cryptocurrency, digital assets, blockchain, EMI licence, DLT
Categories: DeFi & Crypto & Web3
Companies: Orbital
Countries: Gibraltar
This article is part of category

DeFi & Crypto & Web3


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