B2BX Exchange, a professional digital asset trading platform, has received approval for a regulatory license from the Estonian Financial Intelligence Unit (FIU), the company announced on Monday.
B2BX Exchange, part of the B2Broker Group, provides access to institutional level liquidity. It is a spot trading platform that gives its customers the ability to trade major cryptocurrencies such as Bitcoin, Ethereum, NEM, Litecoin, Ripple, NEO, Monero and Dash.
With the license, it is among the first cryptocurrency exchanges to be completely regulated in Europe. The creators of Skype, Estonia is a go-to country for crypto firms to secure regulation, as it is well-known for being technology and cryptocurrency-friendly.
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B2BX supports the five major stablecoins – USDT, USDC, GUSD, PAX, and TUSD. Through the license, which will come into effect shortly, the exchange believes it can extend its cryptocurrency services, as well as introduce crypto-to-fiat products. In addition, clients of the exchange will have access to increase daily limits for automatic deposit and withdrawals.
Commenting on the exchange, CEO and Founder of B2Broker group, Arthur Azizov, said: “we are delighted to have secured regulatory approval from Estonia, placing B2BX Exchange in the enviable position of being one of the first exchanges to achieve this accolade.”
“I have long been a proponent of regulation which I believe will promote further the adoption of cryptocurrency usage and cryptocurrency trading. Our users will be able to benefit from an enhanced level of protection, safe in the knowledge that they are dealing with a world-leading, regulated cryptocurrency exchange”.
B2BX Exchange Seeks Further Licences
With the license from Estonia secured, B2BX Exchange is now looking to attain licenses for further jurisdictions. While the firm does not reveal which areas, in particular, it is looking to obtain authorization, it does say that it is currently in the submission process with a number of regulators and will reveal further details in the future.