Blockchain NewsLatest PostNews Lands Crypto’s First Class 3 VFA Licence in Malta

  • is the first crypto platform to receive a Class 3 VFA license
  • The license is issued by the MFSA of Malta, an EU member country
  • also holds an AFSL license from Australian has made history by becoming the first cryptocurrency platform to get a Class 3 Virtual Financial Assets (VFA) License from the Malta Financial Services Authority (MFSA). co-founder and CEO Kris Marszalek noted,

“We have long believed that building a fully regulated business is the best way to accelerate the world’s transition to cryptocurrency. Being the first global cryptocurrency platform to receive a Class 3 VFA License from the MFSA is a major milestone for the industry as a whole.”

Notably, MFSA subjects Class 3 VFA applicants to a rigorous vetting process. As such, met the stringent security, governance, and compliance requirements to earn the license. Also, since Malta is a European Union member, the license means that can now provide its services to an even wider user group.

In fact, Malta is one of the few European countries that are pioneering the implementation of clear crypto regulations. As a result, users can enjoy greater peace of mind knowing the platform adheres to applicable local and international laws as per the new license. As stated by Marszalek, this in turn will help accelerate global mainstream crypto adoption.

Previously, was operating under the Virtual Financial Assets Act in Malta. However, reportedly worked closely with the Malta regulators to receive the Class 3 VFA License.

To clarify, with a Class 3 VFA License, can now provide services to both novice and expert traders. The services will include executing orders on the behalf of users, serving as an asset custodian, and acting as a dealer.

Notably, also holds an Australian Financial Service License (AFSL) which the platform received at the end of 2020. The platform used its AFSL license to attain  Principal Membership with Visa in March 2021. As a result, will soon be issuing Visa Cards to the Australian public.

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Tina Mutare

Avid reader and writer with a passion for sharing crypto news and trends. Uses her background in finance to help readers better understand the crypto market and investments. Hopes to see mainstream crypto adoption in the near future, especially in Africa.

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