Crypto.com Got License To Offer Bank Transfers in Malta
Crypto.com became the first crypto exchange who got license from Malta Financial Services Authority to offer bank transfer European Island Nation & Issue payment Cards.
On 8 July Crypto.com, a Crypto Payment firm, announced their win to get a license from Malta Financial Services Authority. Through this license they can offer Electronic money transfer to European Island Nation and also they can offer their popular service which is payment cards.
It should be noticed, Crypto.com is the first firm in this crypto market who received this license. Through the blog post, crypto.com revealed how they worked very closely with the Malta Financial Services Authority to get license successfully.
Further they added, their all works & operations are under the regulation system and regulatory framework, so there is no tension to operate their business in any country.
Kris Marszalek said, CEO of Crypto.com, stated:
“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. Being the first global cryptocurrency platform to receive an EMI License from the MFSA is a major milestone for the industry as a whole.”
Crypto.com also claimed that they are not only the first firm who got license in by Malta Authorities but they also already got 3 licenses in May 2021 which was a record for them.
In May 2021 they got License of Class 3 Virtual Financial Assets (VFA).
The Virtual Financial Assets License gives permission to Crypto.com to offer their services to Malta’s clients.
Malta is a well known place for a crypto-friendly ecosystem. There are high regulation rules for financial services including crypto services. Any company and firm can run their services under a particular license. But to get a license by Malta Financial Services Authority is a tedious task because their guidelines are high profile and not easy to fulfill that is why most of the crypto firms failed to get license from Malta.
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