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Assisting Wenia Ltd on their successful application for a Class F digital assets business license

May 10, 2024

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A man in a business suit signing a legal contract.

We are pleased to have acted as lead legal counsel to Wenia Ltd., a subsidiary of Bancolombia S.A., on its successful application for a Class F digital assets business license from the Bermuda Monetary Authority.

Under the terms of its licence, amongst other key priorities, Wenia issued a fully collateralized stablecoin referenced to the Colombian peso.

Partner, Rachel Nightingale stated "we are delighted to have assisted Wenia Ltd in their Class F digital assets business license and we look forward to the continued expansion of Wenia's innovative products and services. The choice of Bermuda by Grupo Bancolombia as the domicile in which to locate its digital assets business is a testament to the legal and regulatory framework established by Bermuda and the Bermuda Monetary Authority, and we look forward to the continued success of the Bermuda fintech sector in 2024."

Our team of experts included partners Rachel Nightingale, Natalie Neto and Sara Hall and associates, Matthew MacLeod and Amelia Oatley.

Media contact

Emily Hirsch

Communications and Digital Marketing Manager - Americas/Cayman Islands

/+1 345 814 6805
/+1 345 936 6805

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