The Hawaii Technology Development Corporation (HTDC) and the Hawaii Division of Financial Institutions, Department of Commerce and Consumer Affairs (HDFI) recently announced their official support for the decision of 11 companies to move forward with plans to continue taking part in the Digital Currency Innovation Lab (DCIL) program that is set to run to the end of 2024.
According to a press release, the companies that plan to continue being a part of the program are Apex Crypto, BitFlyer, BlockFi, Cloud Nalu, Coinme, ErisX, Flexa Network, Gemini, River Financial, SoFi and UpHold.
HDFI Commissioner Iris Ikeda expressed her support for the companies continuing with the program, adding “the decision made by the majority of companies to continue their participation is a testament to the immense value of being a part of the DCIL and the ability to conduct operations in Hawaii, in a legitimate manner. Through the DCIL, we will continue to study the effects and implications of digital currency transactions on Hawaii’s residents.”
“We are excited to be able to continue the momentum we have created for the state over the last two years,” HTDC Acting Executive Director Len Higashi said, according to the press release. “This will provide us with opportunities to engage more fully with existing companies and benefit from the economic growth prospects for Hawaii brought forth by the ability to be part of the crypto community.”
The DCIL is slated to open up for new companies to join when it opens its new application cycle in the third quarter of this year. Until then, officials are encouraging residents to get updates by visiting the DCIL website.