A fintech company Velocity Ledger Technology (VLT) unveiled a new testnet and blockchain API in Bermuda. The information comes from a press release. The API launch is being launched for making digital assets trade. Apparently, the firm has permitted its users to make digital assets applications with their blockchain viewer and web portal. To develop such applications, users should have early permits access to the products. They can develop the apps for issuing, trading and settling digital asset tokens.

Firms can launch initial coin offerings (ICOs) with these apps. The companies have got approval by the Ministry of Finance of Bermuda. The press release further reads that this fintech firm is the foremost platform to administer the managerial compliance from the Bermudan Govt.

The genitor Company of VLT, Velocity Ledger Holdings Limited (VLHL) has the permit from the Ministry of Finance to reveal its own ICO. Bermuda is becoming famous for launching ICOs along with security token and non-fungible tokens. It does not differentiate between digital tokens and traditional securities.

The CEO of VLHL has previously said that Bermuda has acquired the practical and unlimited frameworks for digital assets. It can provide administrative assurance to the market users.