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Crypto.com Receives an EMI License from the MFSA

Crypto.com Receives an EMI License from the MFSA
  • Crypto.com received its Electronic Money Institution license from the MFSA.
  • With the EMI License, Crypto.com can issue cards and offer bank transfers to users.

Crypto.com recently announced that their company is the first global crypto platform to receive the Electronic Money Institution (EMI) license from the Malta Financial Services Authority (MFSA).

The EMI license empowers Crypto.com to directly issue cards and offer bank transfers to its users. With this, anyone who wishes to transact using a regulation-compliant service can do so with Crypto.com.

According to Kris Marszalek, Co-founder, and CEO of Crypto.com, the company’s goals can best be achieved by working with regulators. Marszalek said that,

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.

Aside from this, Marszalek also expressed his delight with the milestone. He believes that this is a great accomplishment for the crypto industry.

“Being the first global cryptocurrency platform to receive an EMI License from the MFSA is a major milestone for the industry as a whole,” he added.

Aside from the EMI license, Crypto.com also recently secured a Class 3 Virtual Financial Assets (VFA) License from the MFSA and an Australian Financial Service License (AFSL).

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Joseph Joestar is a CoinQuora contributor. He works in various blockchain marketing content projects, specializing in written content such as technical whitepapers, press releases, and articles.