The Financial Services Commission (FCS) of Mauritius has announced that it will start issuing licenses for Custodian Services for Digital assets in the country beginning 1st March this year. This is following the recognition of Digital Assets as an asset-class for investment in the country last September. The FSC had also issued a Consultation Paper later in November that sought feedback from stakeholders and the public on proposed regulatory framework for the aforementioned custody services.
This move by the FSC coupled with the establishment of the Mauritius International Financial Center (Mauritius IFC) as the FinTech positions the country as the first jurisdiction globally to offer a regulated environment for the custody of Digital Assets.
In revolutionizing the global FinTech ecosystem through this regulatory framework for the custody of Digital Assets, my Government reiterates its commitment to accelerating the country’s move to an age of digitally-enabled economic growth.As an African country, we look forward to fostering further innovation and bringing more prosperity to the region.
Full Support of the Bank of Mauritius (Central Bank of Mauritius)
About the Financial Services Commission of Mauritius
The FSC was established in 2001 and serves as the country’s regulator for the non-bank financial services sector. Its chief goal is to establish Mauritius as a sound and competitive Financial Services Center.
Over the years, Mauritius has emerged as the fastest growing financial center in Africa and the third fastest growing in the world. The FSC has understood that digital assets are a desired asset class that could provide fruitful opportunities with time.