The Premier and Minister of Finance, the Hon. David Burt JP, MP, has travelled to New York City to lead a business development mission delegation and attend the Alternate Investment Management Association’s (AIMA) Digital Asset Conference this week.
In addition to attending the conference, the purpose of the mission is to promote Bermuda as a prime location for digital assets and Environmental, Social, and Governance (ESG) funds. Also to connect Bermuda's regulatory expertise and supportive infrastructure for blockchain technology with the vast pool of capital and asset managers in New York City.
The Bermuda delegation aims to highlight the island’s commitment to digital asset investment and ESG principles and hopes to attract sustainable and socially responsible funds seeking a well-regulated and innovative domicile.
The Premier will be joined by representatives from the Bermuda Monetary Authority (BMA) and the Bermuda Business Development Agency (BDA). Meetings have also been arranged with key stakeholders to discuss the regulatory framework that the BMA provides for ESG-compliant funds.
The Premier will also participate in a fireside chat at the AIMA Conference with John D’Agostino, Co-founder of the AIMA Digital Asset Work Group, today, Thursday, 2 May. The fireside chat will centre around why Bermuda is the choice jurisdiction for digital asset funds.
Premier Burt said: “Bermuda has established itself as a pioneer in the digital asset space as we were one of the first jurisdictions worldwide to introduce a framework that allows for regulated digital asset business. This has placed us at the forefront of innovation as digital finance develops and becomes more integral to the global economy. We recognise that some of the largest financial services companies in the world are establishing digital asset strategies and delving deeper into digital finance. We aim to inform them of the stable, collaborative, well-regulated environment that Bermuda provides.”
“Yesterday at the 5th annual International Tech Summit, I highlighted how Bermuda’s journey into the digital assets space began in 2017, and though it has not been easy, we have seen results in the last seven years under this Government. Bermuda has a growing fintech sector and is home to over 30 licensed companies, including global leaders like Coinbase, Circle, XBTO and RELM. These companies, and others and the growth of the fintech industry have provided jobs, further diversified our economy, and symbolise confidence in what Bermuda offers to the global market.”
“It is vital that Bermuda attends high-level conferences like the AIMA Digital Asset Conference to tell our story on the international stage and continually showcase what sets us apart from other jurisdictions in the region and globally so that we continue to attract high-quality companies to our shores.”
The Premier departed for New York City on Wednesday, 1 May, and will return on Friday, 3 May.