Crypto.com announced that it is the first global cryptocurrency platform to receive an EMI license from the Malta financial regulator the MFSA.
July 9, 2021, | AtoZ Markets – This week there is a lot of news on Crypto.com. Now the company has announced that it has received a license in Malta. The company has received an Electronic Money Institution (EMI) license from the Malta Financial Services Authority (MFSA).
EMI license allows Crypto.com to offer payment cards & bank transfers
The license now gives the popular cryptocurrency card company the ability to issue cards and offer bank transfers directly to consumers.
The latest announcement comes just two months after the company received a third-class Virtual Financial Assets (VFA) license from MFSA.
Speaking of the news, Crypto.com CEO Kris Marszalek admitted that the company is determined to ensure it is a fully regulated business:
"Working with regulators is the best way to fulfill our mission to accelerate the world transition to cryptocurrencies. Being the first global cryptocurrency platform to receive an EMI license from the MFSA is an important milestone for the entire industry. We are proud to be the industry leader in regulatory compliance, ensuring the safety and protection of consumers in the EU, and look forward to securing a license in every country where we operate."
As AtoZMarkets also reported, the Hong Kong-based payment platform also recently obtained an Australian Financial Services License (AFSL). Three months later, Crypto.com also announced that it had received major membership with its card payment processor, Visa. The company expects to introduce Visa cards in Australia in the future.
Crypto.com Sports Partnerships
It seems that the good news for Crypto.com is not over yet. EMI license approval comes days after the company announced two major sports partnership agreements. The company is now the UFC's first-ever global official partner. The platform also announced a partnership with Formula 1.
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