The British Virgin Islands expanded its role in digital assets and blockchain-based finance in 2025, with increased activity in tokenization, on-chain platforms and institutional-grade crypto structures, according to a report published by Financial IT.
The report found that BVI-based firms were involved in the development of tokenized financial products, including platforms offering digital access to traditional assets such as equities and exchange-traded funds. Among the transactions highlighted was the launch of Ondo Global Markets, an on-chain platform providing access to tokenized U.S. securities.
The jurisdiction also supported the establishment of tokenized investment funds. Firms advised on the launch of Index Four (MI4), a BVI-domiciled tokenized fund, as well as VBILL, described in the report as one of the first fully tokenized investment funds approved in the territory.
Regulatory and structuring services remained central to this activity. Firms in the BVI worked on virtual asset service provider applications, governance frameworks, token issuances and decentralized finance structures.
Elise Donovan, chief executive officer of BVI Finance, said the sector’s performance reflects its development.
“2025 demonstrated the depth and maturity of the British Virgin Islands’ financial services sector,” Donovan said. “The industry delivered sophisticated solutions across digital assets, capital markets, restructuring and sustainable finance.”
Premier and Minister of Finance Dr. Natalio D. Wheatley said the sector continues to evolve.
“The BVI’s financial services sector continues to be guided by innovation, diversification and global relevance,” Dr. Wheatley said. “For complex cross-border activity, the BVI remains the jurisdiction of choice, supported by a strong regulatory framework and a commitment to sustainable economic growth.”
The report also highlighted continued activity in digital asset-related mergers and acquisitions, including transactions involving crypto investment platform Echo and derivatives exchange Deribit.
