Estonia Grants License to B2BX Cryptocurrency Exchange11.12.2018
B2BX Exchange, a leading professional digital asset trading platform, has received approval for a regulatory licence from the Estonian Financial Intelligence Unit (FIU). The licence means that B2BX will be able to operate as a completely regulated exchange for trading cryptocurrencies and makes it one of the first exchanges in Europe to secure this form of recognition.
B2BX Exchange, part of the B2Broker group of companies, applied for its licence in Estonia due to the country’s reputation for being highly innovative and technology-friendly. Furthermore, the EU-member country continues to take a leading stance in the advancement of blockchain technologies and cryptocurrency regulation.
The licence, which comes into effect shortly, will open the door for B2BX Exchange to provide an extended level of services which currently includes a crypto-to-crypto service and soon to be crypto-to-fiat, as well as providing peace of mind for B2BX Exchange users by way of increased transparency and security due to strict KYC procedure adherence. Furthermore, under regulation, users will get increased automatic deposit and withdrawal daily limits and exchange and withdrawal facilities in fiat currencies via bank transfer and all major PSP providers.
CEO and Founder of B2Broker group, Arthur Azizov, commented, “We are delighted to have secured regulatory approval from Estonia, placing B2BX Exchange in the enviable position of being one of the first exchanges to achieve this accolade. I have long been a proponent of regulation which I believe will promote further the adoption of cryptocurrency usage and cryptocurrency trading. Our users will be able to benefit from an enhanced level of protection, safe in the knowledge that they are dealing with a world-leading, regulated cryptocurrency exchange”.
B2BX Exchange, is gaining growing recognition in the industry as a professional trading platform focusing exclusively on liquid coins with a constantly increasing level of liquidity. The focus is on transparency along with high credibility, offering high standards of security and protection for its users and fully complaint AML procedures.
In addition, B2BX is just one of a limited numbers of exchanges in the world that support all five major stable tokens including USDt, USDC, GUSD, PAX and TUSD.
Securing Estonia’s FIU licence paves the way for B2BX Exchange to attain further licences with recognised jurisdictions and there are plans for submissions with several established regulators now in progress which will be announced in due course.
The fund manager recently announced connectivity between Coinbase and the Aladdin platform.
Jacobi Asset Management has hired an ex-BlackRock executive as its new CEO.
Trading volume fell 30% and transaction revenue dropped 35% sequentially.
Crypto market development will be influenced by the speed, harmonization and prudence of regulation.
Euro-denominated cryptocurrencies are the second highest traded fiat behind the U.S. dollar.