On 20 December 2017 Oxygen was officially incorporated in Gibraltar, a British Overseas Territory, under the name Oxygen Trade Limited. Gibraltar is positioning itself as a jurisdiction that aims to combine comprehensive regulation and facilitation of technological innovations.
In December 2017 Gibraltar announced its licence for companies working with Decentralized Ledger Technology (DLT). The license formally recognizes the use of blockchain records as an accepted mechanism for transmitting payments, paving the way for broader adoption of blockchain technology. New laws also extended regulatory protection and now cover crypto assets.
Through its compliance with Gibraltar legislation, Oxygen is strengthening corporate governance and ethical behaviour requirements to ensure KYC transparency and other consumer protection measures. Also, operating under a government that supports technological innovation development lowers the risk of radical changes in future government regulations in the region.