Facing Brexit - World Trade Center Opening Unlocks

Global Growth for eMoney in Gibraltar

Gibraltar is fast emerging as the leading jurisdiction world-wide for regulating cryptocurrency using Distributed Ledger Technology (DLT), including Blockchain technology and additional innovation in FinTech. Benefiting from a recognised global network, the World Trade Center brand is expected to provide a requisite platform for these enterprises to achieve their significant potential, in Gibraltar.

The global strength of the World Trade Center brand was showcased today as the World Trade Centers Association (WTCA) CEO, Scott Ferguson arrived in Gibraltar from New York, with senior members of his leadership team.

Ferguson’s visit from New York to Gibraltar included a tour of World Trade Center Gibraltar, opened by the Chief Minister & Deputy Chief Minster on 15^th February 2017, providing an opportunity to speak to several occupiers within the new state-of-the-art office building. The WTCA delegation also attended HM The Queen’s Birthday Celebrations at the Governor’s Residence with key stakeholders and dignitaries, on Thursday evening, before departing for the U.S., on Friday.

One of the thriving eMoney businesses within World Trade Center Gibraltar is WaveCrest Group, a Gibraltar based FinTech company whose regulated payment solutions enable companies and governments around the world to make payments more conveniently, quickly and cost-effectively. WaveCrest CEO, Brent Almeida [pictured here with Scott Ferguson (WTCA) and Chief Minister Fabian Picardo opening the ‘We Grow Trade^®’ Sculpture in WTC Gibraltar] has no doubt that the perception of the global World Trade Center brand has provided a catalyst for the company’s step-change in growth;

“The globally recognised prestigious address - with unprecedented build quality, networking opportunities and amenities - has given us the space we needed to facilitate growth along with a building and brand that embodies our status as a leading technology innovator.”

Since committing to taking space and being one of the first occupiers within World Trade Center Gibraltar, WaveCrest has enjoyed an astonishing growth in Gibraltar-based staff, from 6 to nearly 30 employees, in addition to the 125 employees located in the US and in India. The company now processes several billion pounds in payments annually, with sights on continued growth from their new globally branded, World Trade Center offices.

Chief Minister Fabian Picardo added:

“In the past, Gibraltar aspired and became the primary location of the internet gaming sector. Gibraltar is now setting its sights on becoming the world’s leading jurisdiction for eMoney, involving the use of Blockchain and associated technologies, including emerging FinTech enterprises."

The Government of Gibraltar has announced draft legislation for the area of Distributed Ledger Technology (DLT), including Blockchain technology, to regulate and facilitate this fast-growing sector.  

Just weeks after opening, World Trade Center Gibraltar has close to 100% of its office accommodation either occupied or under offer, with a variety of these eMoney and FinTech businesses taking space. The building is also home to leading gaming industry firms, insurance specialist companies, wealth managers and to the global leader in serviced office space, Regus. Nick Hughes, Managing Director of EULAT Consulting, a company that has taken space with Regus, commented:

“The World Trade Center brand has already provided my company with several new clients, expanding financial companies whom I would not have gained had it not been for the structure, ease of doing business and professional set up of the World Trade Center.”

World Trade Center Gibraltar is also complemented by Costa Coffee, Supernatural and the Happy Feet Nursery, with plans to add a Doctors Surgery.

The WTCA visit from New York comes at a time when international trade and global outlook are centre stage for both Gibraltar and the United Kingdom, as Brexit negotiations are left wide open, following the General Election on 8^th June. Scott Ferguson commented;

“The WTCA is a global Association of like-minded, trade-focused Members. Our network covers more than 300 cities—including 73 national capitals—and nearly 100 countries, making us a singularly-placed organization to enable trade in a complicated time. We are incredibly proud of this unique position, and delighted by the opportunity to visit World Trade Center Gibraltar today.”

For further information on this press release, please contact Mariela Gancheva at World Trade Center Gibraltar: +350 200 6333 / mariela@worldtradecenter.gi