BVI Lists Crypto Exchange and Custody Operators Separately
Digital-asset firms operating in or from the territory must register each activity, as exchange and custody fall under distinct categories.
Updated on Nov. 3, 2026 in Financial Services
The British Virgin Islands Financial Services Commission has listed RXM Capital Ltd as a regulated virtual asset exchange and custody provider, covering exchanges, transfers, and safekeeping. Firms offering crypto exchange or custody services in or from the territory now operate under that supervisory regime.
Why it matters
The listing shows the BVI's Virtual Assets Service Providers Act, 2022 requiring covered providers to register and submit to regulatory supervision in practice. For operators in digital-asset services, it signals that licensing and supervision are becoming a prerequisite for offering exchange and custody activities in the territory.
The regulator's register shows two dated entries for RXM Capital, a custody entry on Oct. 6, 2026 and an exchange entry on Oct. 7, 2026, both under the trading name RXMdigital. The Virtual Assets Service Providers Act, 2022 took effect on Feb. 1, 2023, and the source does not report any further counts or volumes.
The players
British Virgin Islands Financial Services Commission
The territory's financial regulator, which supervises virtual asset service providers and maintains the licensing register under the VASP Act.
RXM Capital Ltd
A virtual asset exchange and custody provider listed by the regulator, trading as RXMdigital.
The details
Under the Virtual Assets Service Providers Act, 2022, RXM Capital holds separate regulatory entries in the exchange and custody categories, one covering transactions between virtual assets and fiat currency or between virtual assets, and another covering safekeeping of virtual assets or instruments that enable control over them. The approved activities also include transferring virtual assets and financial services tied to an issuer's offer or sale of a virtual asset. The split reflects how the regime sorts each activity into its own category rather than granting a single blanket authorization.
Timeline
Feb. 1, 2023: The Virtual Assets Service Providers Act, 2022 took effect in the British Virgin Islands.
Oct. 6, 2026: The regulator's custody entry for RXM Capital is dated.
Oct. 7, 2026: The regulator's exchange entry for RXM Capital is dated.
Market Landscape
The Virtual Assets Service Providers Act, 2022, which took effect on Feb. 1, 2023, requires covered providers operating in or from the British Virgin Islands to register and places them under regulatory supervision. RXM Capital's listing is one example of that framework being applied to a crypto exchange and custody business.
Operators offering crypto exchange, transfer, or custody services should check whether the Virtual Assets Service Providers Act, 2022 requires them to register, since the regime covers activities carried out in or from the territory. Firms in the sector should review whether their exchange and custody activities need separate regulatory entries, as the BVI register treats them in distinct categories. Consult qualified counsel on licensing scope.
The takeaway
Digital-asset businesses should treat licensing as a separate requirement for each activity they perform, not a single registration. Calendar the regulator's register as a reference point when assessing whether a provider's exchange, transfer, or custody services are covered under the regime.
Further reading
For broader context on how regulators are sorting digital-asset firms into licensed categories, see the Financial Services coverage.
Source note: This article includes information reported by TokenPost.
