After receiving two licenses from Estonian regulators, he became the new operator of the Velinebit crypto exchange.
“Our licensed payment provider Velinebit has been serving customers from Estonia for almost a year. As a result, we have tested in practice the high level of professionalism of the local administration and the regulatory conditions in force there,” Velinebit said.
This experience prompted us to apply for licenses for the cryptocurrency exchange in this country. And we have succeeded. We decided to entrust the management of our activities to the company.”
Also, the representative of the exchange emphasizes that this process does not involve registration, all the functions of the exchange will remain unchanged. However, the exchange will have new options for depositing and withdrawing funds with three fiat currencies – the euro, the British pound and the US dollar.
The migration will be carried out on November 1, as a result of which the trading platform falls under the new regulatory standards. Nevertheless, no significant changes will occur, as the exchange will comply with all European standards.
“The company will remain the owner of the rights to the trading platform and will grant a license to a new operator from Estonia,” Velinebit added.