First-ever licensed crypto trading platform in Malta, Crypto.com gets the crown of it. Financial Service Authority of Malta (FSA) has issued to Crypto.com the license to render crypto trading and exchanging services. Bitcoin.com has also obtained approval of providing customers with Bitcoin.com-supported debit and credit cards in addition to a crypto trader service license. From now on in Malta, the customers will also be offered bank transfers.
Crypto.com is world’s one of the fastest-growing crypto trading platforms, which since 2019, has earned a huge name. Resultantly, its crypto trading arms in multiple countries have been extended.
The firm had shown earlier its intention to establish a crypto trading platform in the territory of Malta for the cause of further expansion.
Crypto.com informed that the license to provide for crypto trading and related services in Malta has duly been granted to it. It was coordinating with the Financial Service Authority of Malta (FSA) for the past couple of months, the firm announced. About 60 days ago and as a result of coordination license to render crypto trade services in Malta was granted to it. Another license called EMI has also been issued to Crypto.com. Now the EMI license not only authorizes to allow crypto trade services but also allows for providing extra facilities. Facilitation of customers in sending their funds from exchange to banks is included in the extra facilities.
For onward use by Crypto.com’s customers in Malta, the firm is also entitled to develop its own debit and credit cards. It is interesting that in Malta none of the trading platforms has enjoyed the privilege of being a licensed crypto entity existed in the past. Now, it is the first-ever licensed crypto trading platform officially available in Malta, credit surely goes to Crypto.com.
In the announcement, Crypto.com revealed that in ensuring compliance with laws and regulations of the country no stone will be left unturned.
CEO of Crypto.com Kris Marszalek stated that both entities will work closely. He further stated Crypto.com had decided to seriously comply with prescribed rules and regulations from the day of launching crypto trading services in Malta. Marszalek commented it was a major milestone for Crypto.com to become the first-ever licensed crypto trading firm in the region.
Malta is considered to be the first and foremost choice of launching crypto trading, for most crypto startups. The crypto trading field has a very crypto-friendly atmosphere, and the very best names in the crypto trading field are housed here. From the region of Malta, as per the country’s crypto data, worth around 70 Billion Dollars of crypto assets have been traded.
Besides all this, there are some negative views the country has. As per reports, there are many crypto fraud firms claiming also to be from Malta. The name of Malta is also being ridiculed a lot.