Crypto.com Gains Virtual Financial Assets License in Malta

Crypto.com, which is a cryptocurrency Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term and a debit card provider, has received a Class 3 Virtual Financial Assets (VFA) License from the Malta Financial Services Authority (MFSA).

Announced on Wednesday, this license will allow the company to offer services like the Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term of orders on behalf of other persons, custodian or nominee services and dealing on its own account.

The crypto company received in-principle approval from the MFSA last November for a Financial Institution License, which is still in process. If approved, that will allow the company to offer payment services and issue electronic money.

“We have long believed that building a fully regulated business is the best way to accelerate the world’s transition to cryptocurrency,” said, Kris Marszalek, Crypto.com Co-Founder and CEO.

“Being the first global cryptocurrency platform to receive a Class 3 VFA License from the MFSA is a major milestone for the industry as a whole. We are proud to lead the industry in regulatory compliance, ensuring consumer safety and protection in the EU, and look forward to securing licenses in every country we operate in.”

Becoming a Well-Licensed Crypto Company

Crypto.com is focusing on regulations a lot to capture the global cryptocurrency market. It acquired the Card Group last December to gain an Australian Financial Services (AFS) license, which has allowed the company to operate legally in Australia. Additionally, the Hong Kong-based company bolstered its crypto card business, becoming a principal member of Visa in Australia.

Further, Crypto.com is positioning its brand at a global level and signed a few high-profile sponsorship deals. Finance Magnates earlier reported that Crypto.com has become the sponsor of British luxury car manufacturer, Aston Martin’s Formula One team.