Cryptocurrency

Crypto.com achieves ‘milestone’ after securing EMI license in Malta

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Crypto.com announced it has been granted an Electronic Money Institution (EMI) license by the Malta Financial Services Authority (MFSA), making it the first international cryptocurrency platform to be given the clearance.

For a while now, the Hong Kong-based crypto exchange has been working closely with the Malta regulator and its efforts finally paid off by successfully acquiring the EMI.

Just two months ago, Crypto.com became the first global crypto platform to be issued a Class 3 Virtual Financial Assets (VFA) license from the MFSA. Now, with its EMI license, the company can now issue cards and offer direct bank transfers to customers in Malta.

A fully-regulated business

In December last year, the platform was also successful in securing an Australian Financial Service License (AFSL).

“We have been committed from day-one to building a fully regulated business. Working with regulators is the best way to fulfill our mission of accelerating the world’s transition to cryptocurrency,” said Kris Marszalek, the Chief Executive Officer and co-founder of Crypto.com.

The exchange official also said that he considers the EMI license granted to them by the MFSA as a major milestone for the industry as a whole.

A license in every country

Marszalek also talked about the ambitious goal of his company to obtain licenses in every country that they currently operate in.

He said that they 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” where they are in business.

Meanwhile, a day earlier, the crypto exchange announced their $175 million sponsorship kit agreement with UFC as part of its expansion of sports deals in order to effectively reach younger audiences.

 

Image courtesy of Cointelegraph News/YouTube

Jet Encila

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Jet Encila

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