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Xcoins receives In-Principle Approval for a VFA License
One of the first crypto-platforms to achieve these regulatory milestones
Xcoins, a leading cryptocurrency exchange, has announced that they have just received their In-Principle Approval for their Class 3 VFA License issued by Malta Financial Services Authority (MFSA), making them one of the very few cryptocurrency exchanges to obtain these permissions.
Malta, Santa Venera
Xcoins has, again, proven that their internal policies and processes are in line with the highest standards in the industry, recognized by the MSFA. With a business strategy that focuses on global expansion, receiving an in-principal approval from the VFA was a natural next step.
CEO and Founder at Xcoins, Rob Frye stated,
As the digital asset space explodes globally, the need for clear and meaningful regulation is more important than ever. Our commitment to building a fully regulated business is now one step closer to realization. Being one of the first cryptocurrency platforms to receive In-Principle approval by the MFSA, for a Class 3 VFA license, is a historic milestone for Xcoins. We look forward to serving customers globally and securing additional licenses throughout 2021.
This outstanding milestone means customers can feel secure that they are trading cryptocurrencies on a platform that has been licensed by renowned authorities who are driving industry standards.
Xcoins had fabulous growth since their first time contacting DWP VFA Agent Ltd. After a lot of hard work, they are now a step closer to being licensed by the Malta Financial Services Authority. I am incredibly proud to have been part of their application process and also very excited to see what the future holds.
– Dr Rebecca Misfud, VFA Agent at DWP
Fulfilling the conditions and the on-going obligations of the international laws and regulations is proof of Xcoins’ commitment to providing secure and compliant crypto services, protecting users’ fiat and crypto funds, across the world.