Swiss Financial Technology Provider Lykke obtains CySEC CIF License, which enables the company to expand its reach to the European financial market. What is next for Lykke Cyprus Limited?
16 July, AtoZ Markets – The Swiss-based financial technology firm Lykke has received a European Investment Firm License. The company is looking into offering its services in the European Markets now.
Swiss Financial Technology Provider Lykke Receives CySEC CIF License
Earlier this month, Lykke Cyprus Limited has received an approval from the Cypriot regulator, the Cyprus Securities and Exchange Commission (CySEC). The firm is now able to operate as a regulated Cyprus Investment Firm (CIF).
Now, since Lykke Cyrpus Limited has obtained a CIF license with the number 363/18, the firm is obligated to follow the standards and laws of the European Economic Area. Therefore, the company is required to abide by the strict financial standards and implement a regulatory framework of the EU. The latter includes the segregation and protection of client funds, full transparency of the business operations and capital adequacy controls.
The founder of Lykke, Richard Olsen has commented on this development:
“The CySEC license represents a significant milestone in Lykke’s history because it lays the foundation for us to commence regulated financial services while adhering to the highest standards set by the European Securities and Markets Authority.”
Lykke Moves Towards implementing its Mission
This Swiss Financial Technology group is using the latest technologies in order to build the future of financial markets. The company strives to deliver a global marketplace that is designed with efficiency, fairness, and transparency in mind.
Dr. Demetrios Zamboglou, CEO of Lykke Cyprus Limited has also commented on Lykke CIF License:
“Lykke’s operational capability has been substantially enhanced with CySEC’s approval. As a company, we are a step closer to commencing regulated activities including new trading features for clients, expected in the coming months.”
Yiannis Menelaou, General Manager of Lykke Cyprus has also reiterated Mr. Demetrios Zamboglou’s position.
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