Bitcoin and cryptocurrency project at IY LEGAL

Over the last few months we have prepared a series of agreements and contracts for a client which operates a well-known Bitcoin and crypto exchange, providing an online platform to buy, sell, trade and earn cryptocurrencies, which can also be accessed via a mobile App.  Operating internationally, our client has over 4 million customers worldwide and is one of the pioneering businesses in this growing financial sector.

IY LEGAL was retained to prepare various of the core ‘day-to-day’ agreements and T&Cs required for use of the trading platform and connected activities, including T&Cs, Service Agreement, Referral Agreement, Escrow Agreement, Aggregator Terms and Market Maker Conditions.

We expect that the open financial system will continue to see rapid growth in popularity, with more FinTech companies offering blockchain technology and API-based integration with banking services in the traditional financial systems.  Whilst highly sophisticated offerings from an IT perspective, these platforms still require to be underpinned by sound contractual structures prepared by lawyers experienced in trading and financial markets, whilst being agile enough to draft terms that support new products and digital currency trends.    

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