GLEEC Obtains Licenses to Provide Crypto Services in 8 Countries

The blockchain infrastructure startup GLEEC is on the road to achieving global regulatory compliance, with the announcement that it has obtained licenses to offer its cryptocurrency services in no less than eight countries, across the Middle East, Europe and the Americas.

The licenses it has secured will enable GLEEC to provide a range of crypto services in countries like El Salvador, Poland, Lithuania and Slovakia, as well as the city state Dubai, the company said. In addition, it's now licensed to perform banking services in Canada and Ukrain, and foreign exchange activities in Estonia and Lithuania.

GLEEC's progress in El Salvador is especially significant, as the Central American country hit the headlines for becoming the first nation in the world to officially accept Bitcoin. As a result, BTC is now legal tender in El Salvador alongside the U.S. dollar, and is widely accepted as a means of payment. GLEEC is now poised to foster more widespread adoption of BTC in the country, as it is legally allowed to provide wallet, custody, crypto-to-fiat transfers and payments and other services.

In Canada meanwhile, GLEEC has secured approval to handle foreign exchange dealings, money orders, crypto transfers and more in one of the world's most developed economies. And in Dubai, it has gained approval to conduct asset trading with crypto.

GLEEC is in a good position to offer these kinds of services as it has the infrastructure to support them in place. In addition to the GLEEC token and GLEEC Exchange, it also offers decentralized exchange services and a comprehensive cryptocurrency wallet.

The company is also behind the popular blockchain game GLEEC Racing, which is a play-to-earn race car simulator that allows players to get behind the virtual wheel and compete for cryptocurrency rewards. Earlier this year, it began hosting its regular, weekly Grand Prix series, where winners can earn significant prizes in GLEEC tokens.

According to GLEEC's CEO and founder Daniel Dimitrov, the regulatory approvals it has obtained so far are really just the start, as it ultimately intends to secure global compliance.

“The company is constantly seeking to attain global regulatory approval,” he said. “We aim to create a crypto ecosystem with a balanced regulatory framework.”