MAJURO, Marshall Islands, Aug. 11, 2022 /PRNewswire/ – Gate.io Group announced that its Malta-based company Gate Technology Ltd Virtual Financial Assets (VFA) Service Provider License on Malta. Under the Gate Malta brand name, it is now permitted to operate a VFA exchange and offer custodial services in or from Malta. Additionally, Gate.io Group has started to expand its Malta-based team to strengthen local business operations.
dr Lin Han, Founder and CEO of Gate.io Group said, “Malta is an early pioneer in regulatory frameworks that allow for increased reliability and security in the industry. Entry into Malta marks the start of a push towards compliance across the EU. We look forward to maintaining our commitments to user welfare and responsible service, made possible in part by the country’s healthy regulatory environment.”
Malta was among the first countries to introduce regulations on cryptocurrency-related activities. As a result, the tiny Mediterranean island nation has attracted crypto companies worldwide trying to comply with the country’s all-encompassing crypto regulatory framework.
The acquisition of the license, which is expressly intended for VFA services, is accompanied by a push-by Gate.io group to increase user trust, forge new partnerships and expand the accessibility of its comprehensive trading services. Obtaining licenses and complying with regulations are crucial to solidify Gate.io Group as a reliable and well-regulated global digital asset service provider.
Gate.io group has set up a local office to ensure compliant operations and provide resources to meet the needs of the local crypto ecosystem.
Through this new license Gate.io group shows it sticks to the rules, through its nine-year history of safe and reliable service and compliance in regions with clear and well-rounded regulations. “Malta is an important first step in our European expansion and part of our broader global strategy. As we continue to accelerate expansion, there will be more good news to come,” said Dr. Lin Han.