STS Digital granted Class F licence by BMA
13 May 2026 Bermuda
Image: lucky-photo/stock.adobe.com
STS Digital, a trading firm specialising in digital asset derivatives, has been granted a Class F (Full) licence by the Bermuda Monetary Authority (BMA), under the Digital Asset Business Act 2018.
The licence is the highest level of authorisation available in the region, allowing STS Digital to issue, sell, or redeem virtual tokens, operate a digital asset exchange, act as a custodian, and provide digital asset payment services.
The BMA sanction follows the firm’s three-year progression, in which it moved from Test Licence in May 2023 to Modified Licence in April 2025, before obtaining its current authorisation.
STS Digital will join the short list of institutions that have undertaken the entire Test-Modified-Full pathway, including Circle, Coinbase International, and Payward — Kraken’s parent company.
Commenting on the authorisation, Maxime Seiler, CEO, STS Digital, says: “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.
Lucy Reynolds, chief strategy officer, STS Digital, comments: “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."
Jeffrey Baron, independent director, STS Digital and chief operating officer of Coinbase International, adds: “This is a clear validation of the company’s long-term approach: building with institutional discipline, risk management, and regulatory credibility at its core.”
The licence is the highest level of authorisation available in the region, allowing STS Digital to issue, sell, or redeem virtual tokens, operate a digital asset exchange, act as a custodian, and provide digital asset payment services.
The BMA sanction follows the firm’s three-year progression, in which it moved from Test Licence in May 2023 to Modified Licence in April 2025, before obtaining its current authorisation.
STS Digital will join the short list of institutions that have undertaken the entire Test-Modified-Full pathway, including Circle, Coinbase International, and Payward — Kraken’s parent company.
Commenting on the authorisation, Maxime Seiler, CEO, STS Digital, says: “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.
Lucy Reynolds, chief strategy officer, STS Digital, comments: “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."
Jeffrey Baron, independent director, STS Digital and chief operating officer of Coinbase International, adds: “This is a clear validation of the company’s long-term approach: building with institutional discipline, risk management, and regulatory credibility at its core.”
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