Connecting the dots to bring disruptive financial services closer to the mainstream with every transaction, Partner Aaron Payas’ practice enables his clients to leverage all the advantages Gibraltar offers as a proof of concept jurisdiction in financial services. Marrying a traditional practice in fund establishment with industry-leading work, Aaron has been instrumental in many clients’ achievements in the challenging distributed ledger technology space.
The development of Gibraltar as a centre for medical cannabis business is an additional growth area of Aaron’s practice.
Current areas of focus
Investment funds, DeFi, crypto, tokenisation of assets, CBD, medical cannabis & football law.
Aaron is a regular contributor to Hassans’ Views and his articles can be accessed on his author page by clicking here. As his practice in the context of DeFi and the broader DLT space develop, he recently explored the virtues and options of using Gibraltar foundations and purpose trusts as vehicles for use as Protocol Governance Vehicles.
Recent practice highlights
In a landmark achievement for INX, a Gibraltar-based token issuer, Aaron assisted in INX’s listing by the SEC in the US of the first SEC-approved security token. Aaron described the listing at the time by saying: “It is a matter of some pride for Hassans, INX and for Gibraltar that the first security token offering approved by the SEC for distribution to the US public isn’t even a US entity – it is a Gibraltar company, constituted and operating under the Laws of Gibraltar. This is an excellent development for the jurisdiction, the efforts of which in the DLT and wider fintech space are being validated by the successful filing of the INX security token – making a public offering of tokens in the US had long been the ambition of many projects in the industry, something that was thought by many to be impossible. We now know, as a firm, that it is not.”
Aaron has assisted in the creation of the first three regulated crypto funds in Gibraltar – he has also assisted in the listing of Canadian-based fund The Bitcoin Fund (QBTC.U) on its second listing the Gibraltar Stock Exchange, only the second of its kind to be listed in the EU at the time.
Aaron is a strong proponent and committed contributor to the development of Gibraltar as a jurisdiction for funds business, having co-authored the crypto funds code of conduct published by the Gibraltar Funds and Investments Association. He also led the team at the Gibraltar Financial Services Commission working on the transposition of the AIFM Directive. The Guidance Notes thereto (23) were also drafted by Aaron as part of his work on developing the area.
Aaron has a strong background in Mathematics and is a Chartered Financial Analyst (CFA) charterholder. His practice spans funds, crypto funds, tokenised funds, sports law, fintech, distributed ledger technology (DLT), blockchain, initial coin offerings (ICOs), security token offerings (STOs), tokenisation of assets, and crypto-currencies.
Aaron is authorised by the Gibraltar Financial Services Commission to provide directorships to Experienced Investor Funds. Aaron regularly presents at seminars, and is a published author, on funds, crypto funds, DLT, AIFMD, Sports Law and medical cannabis.
Aaron initially attained a BSc in Mathematics with Honours at Loughborough University in the United Kingdom and thereafter undertook a Graduate Diploma in Law at Middlesex University, London. He subsequently completed the Bar Vocational Course at the College of Law in London. Aaron is a member of the Honourable Society of the Middle Temple and was admitted to the Bar of England & Wales and the Gibraltar Bar in 2008.
In his spare time, Aaron dedicates himself to football with over 10 caps as a full international for Gibraltar.
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