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Portugal Crowns 2 Crypto Exchanges With Operating License

Portugal Crowns 2 Crypto Exchanges With Operating License
  • Portugal grants licenses to two of its crypto exchanges.
  • The two are Criptoloja and Mind the Coin.
  • Criptoloja CEO, Pedro Borges, is eager to begin operations soon.

For the first time ever, Portugal grants operating licenses for two of its crypto exchanges. The Central Bank of Portugal (Banco de Portugal) made an official statement on the matter.

The two crypto exchanges are — Criptoloja and Mind the Coin. They can now freely conduct crypto operations in the country.

In detail, the bank said that these two exchanges are ‘virtual asset service providers’. However, the approval for these licenses took longer than expected.

For instance, Criptoloja sent its approval request on September 29, 2020. The CEO, Pedro Borges says it was a long road. He adds that it was worth it since the exchange is now the first regulated exchange platform in Portugal.

A bank agent says, back in April, the Banc got many similar requests. Specifically, the bank got five formal requests and 60 informal ones.

Meanwhile, Critpoloja is set for a full launch in the next few weeks. The CEO says it is ready to welcome new users. However, it has yet to begin with online trades.

Lastly, Borges mentions that the brand’s final goal is to help Portuguese citizens with an interest in crypto investing. Moreover, he says the platform will offer a safe space to confidently trade.

Above all, he says it is important to promote crypto adoption among the new generation of traders. Also, he specifies that the brand will do the same for all demographics.

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