Hey! Big announcement.
As of April 2018, Stronghold officially has set up compliant operations in New Zealand for our trading platform.
To make the most of the move, we have decided to relocate a portion of Stronghold’s operations there, led by our office in Christchurch which will support our existing team in San Francisco.
On the surface, it might seem sudden or even alarming, but it’s just the opposite. This move will bring several wins for Stronghold as we move forward.
Why the move to New Zealand
First and foremost, nothing changes for you as a trader.
We’re not touching your account, and the terms you agreed to are still the same.
We decided to domicile a portion of our operations in New Zealand primarily because the U.S regulators have not given clear guidance on how to operate a legitimate exchange.
And according to the SEC, if you’re not compliant, you’re illegal.
“If a platform offers trading of digital assets that are securities and operates as an “exchange,” as defined by the federal securities laws, then the platform must register with the SEC as a national securities exchange or be exempt from registration.” SEC — March 7th, 2018
If we didn’t take action, we would be at risk of operating illegally, and we didn’t want that to happen.
New Zealand offers a clearer regulatory environment that fosters innovation while protecting investors.
While we finish the work to become regulatorily compliant in the United States, running the trading platform and anchors from New Zealand allows us to be operational and compliant without any breaks in service.
Details of our New Zealand Compliance Status
Here’s the need-to-know about our new regulatory status.
As of April 2018, Stronghold’s trading platform operates as a New Zealand Financial Service Provider:
Stronghold Institutional Services Limited (our trading platform)
This allows Stronghold to do two key things for retail clients and accredited investors:
- Operate a money or value transfer service
- Issue and manage means of payment
With this status, we can carry on the trading platform and anchoring business in New Zealand while still serving most of the U.S. and broader international markets.
For you, it means that you can trade confidently, knowing that your exchange is operating legitimately.
We simply weren’t willing to compromise on how we serve our community of traders.
What does this mean for the Stronghold community?
It means you can keep on trading!
U.S. compliance is on the horizon, but for now, this lets us continue business as usual. Keep buying your Stellar lumens, bitcoin, ether, and MOBI.
The only change by having operations in New Zealand is our new Christchurch office!
Now that we have achieved compliance status, we can focus on improving our platform, increasing liquidity and growing our community. We are currently expanding our development team and we are working tirelessly behind the scenes to implement new features.
We couldn’t be more excited for Stronghold’s future.
Make sure to follow us on Twitter (@strongholdxchg) to get all our latest updates. We have a series of game changing announcements coming over the next several weeks.
Please get in touch with any questions, comments, or concerns.
PS — We started a new Christchurch Stellar Meetup group. Please share with a friend.
PPS — We are hiring in our Christchurch offices.Trading Announcements