Have a Cryptocurrency Company? Bermuda, Malta or Gibraltar Wants You

“For every one license we’ve issued, we’ve probably said no to 10,” he said. “When you’re considering a new sector, to bring in big names is extremely attractive, but they’ve got to be good names. So you’ve got to be willing to say no to even some of the bigger ones.”

Online gambling is responsible for around 3,000 jobs on Gibraltar, or about 10 percent of the territory’s population. Mr. Isola said he saw a similar possibility in the blockchain, calling it “the next significant new flow of business.”

Gibraltar is in the final stages before voting on regulations that, similar to Malta’s, would let companies issue and trade digital tokens. Already, 35 companies have applied to the government for licenses to operate blockchain businesses.

Liechtenstein, the Alpine nation between Austria and Switzerland, is also among the newer entrants to the race, with the prime minister circulating a Blockchain Act this summer to allow companies to sell tokens.

The activity has…