Ogier increases market share of BVI VASP registrations with two more approvals

Ogier has advised on nearly a fifth of successful Virtual Asset Service Provider registrations in the British Virgin Islands.

Having recently assisted Top Value (BVI) Limited and Matrixport Technologies Ltd on their Virtual Asset Service Provider (VASP) applications, Ogier's Technology and Web 3 team has advised on five of 26 known successful applications (19.2%) - according to the 24 VASP licensees listed on the BVI Financial Services Commission's Q1 2026 bulletin (which includes Matrixport) plus those announced publicly since, including Top Value.

Top Value transaction lead partner Dennis Li said: “We are pleased to have advised Top Value on its successful registration as a VASP in the British Virgin Islands. This reinforces Ogier's position as a trusted partner for businesses seeking to become licensed in the BVI."

Matrixport transaction lead partner Michael Killourhy, who also worked with partner Stuart Fee and senior associate Holly Chapman, said: "Congratulations to Matrixport on its successful VASP and SIBA applications. Our work in this area reflects the BVI Financial Services Commission’s progressive approach to the regulation of VASPs and the continued development of the BVI’s virtual assets regime.”

These matters build on Ogier’s previous BVI Virtual Asset Service Provider licensing work. The firm previously advised One.io Group on one of the first successful applications under the BVI VASP Act as well as TDX Strategies Ltd. The firm also worked with Liquidity Technology Limited (LTP) on the first dual VASP and SIBA licence, meaning Ogier has advised on both successful dual licensing applications in the jurisdiction.

Ogier's Technology and Web3 experts offer cross-border advice on evolving regulation and can assist VASPs, including trading platforms and exchanges, in obtaining registration or licensing to conduct virtual asset services and token issuances in relevant jurisdictions. Find out more about our Technology and Web3 expertise.