Crypto.com has now become the first international cryptocurrency platform to receive an Electronic Money Institution license in Malta.
Crypto.com Receives EMI License From The MFSA
The crypto exchange announced Thursday in a blog post that it has now been given an EMI license by the Malta Financial Services Authority (MFSA).
The hong-kong based exchange has been working closely with the Malta regulator for a while now. Only two months ago, crypto.com became the first global crypto platform to have received the Class 3 Virtual Financial Assets (VFA) license from the MFSA.
And now the firm has become the first to receive an EMI license as well. With this license, the exchange can now issue cards and offer direct bank transfers to customers in Malta.
December last year, the crypto platform was also able to secure an Australian Financial Service License (AFSL).
Kris Marszalek, the CEO and co-founder of crypto.com, said:
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 worlds transition to cryptocurrency. Being the first global cryptocurrency platform to receive an EMI License from the MFSA is a major milestone for the industry as a whole.
In addition, Marszalek also talked about the exchange platforms ambition to obtain licenses in every country they currently operate in.
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.
The news arrives only a day after crypto.com announced their $175 sponsorship kit agreement with UFC. The platform has been expanding its roster of sports deals in order to effectively reach the younger audiences.
