Cryptozerox.com for the first time, it took steps in September 2019 to provide residents of Puerto Rico with access to the same services as residents of the United States.
The CEO confirmed that residents of Puerto Rico could access services on the exchange before obtaining a license to transfer money. The representative did not answer questions about how the new license changes existing services.
“Puerto Rico, in particular, is an important market for the growth of cryptography, and we look forward to continuing to offer its residents secure, reliable and inexpensive access to a wide selection of tokens,” said director of Cryptozerox Justin Hance.
Any company in which “a payment order has been received, including, but not limited to, bank bills, checks, personal money transfers or any other means of transferring money or payment, including those carried out by electronic transfer, telegraph, telephone or any other other medium to be transferred to the beneficiary”, is required to obtain a transfer license funds in Puerto Rico, according to the Nationwide Multi-State Licensing System and the Registry Resource Center.
The new license marks the third license Cryptozerox.com this year. Since January, the exchange has been accredited in Connecticut and Louisiana. However, not all states require a license to operate the exchange.
In March Cryptozerox announced that it is available to residents of Louisiana, which means that the exchange is now available in 32 US states.
“Every state, including Louisiana, has a unique set of requirements, and we are working to ensure that eventually we can work in all 50 states,” Justin Hance said. “We are pleased to offer our services in Louisiana and, as in other states, look forward to working with state officials to demonstrate our attitude to compliance.”
The license of Puerto Rico was obtained after Cryptozerox reached a $4.5 billion valuation after completing a $250 million seed funding round earlier this month. Among the investors of the round were Circle Ventures, Foundation Capital, Gaingels, Gold House, Original Capital, RRE Ventures and VanEck.