CEX.IO Expands US Operation, Gains MTL License in Idaho
- The exchange is now operational in 37 US states.
Crypto exchange CEX.IO has obtained another money transmitter licensing (MTL) license in the United States and can now legally operate in the state of Idaho.
With this, the exchange has received 20 similar licenses in the country and has expanded its operations to 37 states.
As Finance Magnates reported earlier, the exchange is constantly pushing to expand its services in all 50 states of the country.
Mentioning the development, Oleksandr Lutskevych, founder and chief executive of the exchange, told Finance Magnates: “CEX.IO has obtained 20 money transmitter licenses so far and can currently serve residents in 37 states — and we have plans to expand to all 50. In an effort to serve customers throughout America, we have filed applications in every regulated state and anticipate approval by the end of the year.”
Expanding services in the United States
The exchange first registered in the country in 2015 with Financial Crimes Enforcement Network (FinCEN) as a money services business and has also completed three annual audits to ensure its compliance with the licensing regulations.
“Unlike many of our competitors, we have never ignored the law and have never served US customers without a license in states where one is required. Such transgressions by others may not go overlooked,” Lutskevych added.
Meanwhile, the exchange is also collaborating with XTRD for the development of the XTRD Single Point of Access (SPA).
“[The new product] will Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term XTRD routing technology and CEX.IO’s Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term worldwide to facilitate digital exchange operations. This SPA will allow professional traders to trade across multiple exchanges with aggregate liquidity, saving them the trouble of maintaining multiple accounts and using API integrations across exchanges while bearing counterparty risks.,” the CEO explained.
Crypto exchange CEX.IO has obtained another money transmitter licensing (MTL) license in the United States and can now legally operate in the state of Idaho.
With this, the exchange has received 20 similar licenses in the country and has expanded its operations to 37 states.
As Finance Magnates reported earlier, the exchange is constantly pushing to expand its services in all 50 states of the country.
Mentioning the development, Oleksandr Lutskevych, founder and chief executive of the exchange, told Finance Magnates: “CEX.IO has obtained 20 money transmitter licenses so far and can currently serve residents in 37 states — and we have plans to expand to all 50. In an effort to serve customers throughout America, we have filed applications in every regulated state and anticipate approval by the end of the year.”
Expanding services in the United States
The exchange first registered in the country in 2015 with Financial Crimes Enforcement Network (FinCEN) as a money services business and has also completed three annual audits to ensure its compliance with the licensing regulations.
“Unlike many of our competitors, we have never ignored the law and have never served US customers without a license in states where one is required. Such transgressions by others may not go overlooked,” Lutskevych added.
Meanwhile, the exchange is also collaborating with XTRD for the development of the XTRD Single Point of Access (SPA).
“[The new product] will Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term XTRD routing technology and CEX.IO’s Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term worldwide to facilitate digital exchange operations. This SPA will allow professional traders to trade across multiple exchanges with aggregate liquidity, saving them the trouble of maintaining multiple accounts and using API integrations across exchanges while bearing counterparty risks.,” the CEO explained.