Swiss-headquartered fintech firm Lykke announced today the establishment of Lykke Vanuatu (lykke.vu), a new licensed entity. The Vanuatu Financial Services Commission (VFSC) has approved Lykke Vanuatu as a Dealer in Securities.
Lykke Vanuatu will provide access to Lykke Exchange for residents in Asian and African countries in compliance with local regulations. Internet users in these countries can download the Lykke Wallet application to participate.
Lykke founder and CEO Richard Olsen notes that Vanuatu is the first license of the group. “We welcome our new friends from Asia and Africa and encourage them to visit Lykke Exchange,” he said. “Lykke’s mission has always been to build a global marketplace. We want to level the playing field, so that everyone has access to trading.”
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The Vanuatu license enables Lykke to offer a comprehensive service package. The company offers online trading on FX currency pairs and contracts for differences (CFDs) with 0% commission as well as seamless integrations.
Lykke Corp is applying for licenses in Cyprus, the United Kingdom, Switzerland, Japan, and the United States to provide broker services all around the globe.
Lykke concluded its initial coin offering (ICO) at, October 11th, to develop a global blockchain-powered marketplace. The crowdsale sold 23,226,753 coins, raising 1,161,338 CHF. The sale lasted a month, during which over 1,200 new people downloaded Lykke wallets and registered with the service and the number of Lykke coin holders jumped from 147 to 717.