IronX crypto exchange gets regulatory license from the Estonian Financial Intelligence Unit. The cryptocurrency exchange has been granted a regulatory license one month earlier than it was expected.
18 September, AtoZ Markets – One of the cryptocurrency exchanges, IronX, made an announcement on Monday, stating that it has received the regulatory approval from the Estonian Financial Intelligence Unit (FIU).
IronX Crypto Exchange Gets Regulatory License in Estonia
IronX is a joint venture between the founder of Cardano Blockchain EmurgoHK and the global brokerage firm IronFX Group. The regulatory license from the FIU provides IronX with an opportunity to act as a completely regulated exchange for trading cryptocurrencies in Estonia.
Estonia is one of the most Blockchain-friendly countries in the world, as it is known for its welcoming stance regarding innovations and technologies. This Baltic country has gained a reputation as a supporter of the development of distributed ledger technologies. The country has been also expressing its readiness towards adopting a cryptocurrency regulation framework.
Perhaps, these points appeared as key reasons for IronX to choose Estonia as the place to establish its operations. Noteworthy, the cryptocurrency exchange has been granted a regulatory license one month earlier than it was expected.
When Will IronX be Launched?
The license allows IronX to serve as a provider of a cryptocurrency against a fiat currency exchange service. It can also act as a provider of a virtual currency wallet service.
The Founder & Chairman of IronFX Group, Markos Kashiouris commented on the latest development within the company. He has been quoted as saying:
“We have brought all our years of experience in regulated online derivative and commodity trading to create this new seamless trading platform for our customers. Being awarded regulatory approval, which was one of our key milestones in our Whitepaper, means we now stand apart from many of our competitors in the sector, allowing investors, both private and institutional, to trade cryptocurrencies, within in same protected environment as they would trade forex, commodities, equities and other long-established tradable assets.”
It is expected that the official launch of IronX cryptocurrency exchange will take place in December 2018. However, the beta version of the digital currency exchange is planned for the end of this month. It is also reported that the news emerges as a highly positive development for VIP IRX token holders.
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