B2BX Bitcoin Exchange has obtained a license in Estonia

Cryptocurrency exchange B2BX announced that it has received a license to work from the Financial Intelligence Unit of Estonia. According to the project team, this will make B2BX one of the first fully regulated exchanges in the European Union.

Estonia is one of the most progressive EU countries with regard to cryptocurrency legislation. Sellers and buyers in Estonia have the legal right to use cryptocurrency in their calculations, and cryptocurrency companies are considered as providers of alternative means of payment, brokers, exchangers and exchanges.

Obtaining a license will allow B2BX to launch cryptocurrency exchanges, in addition to digital assets, also for fiat money and to increase daily limits on automatic withdrawals. Exchange customers can start using bank transfers, credit cards and the most popular e-wallets for depositing and withdrawing.

A regulated exchange guarantees the safety of funds, capital adequacy standards and full transparency through an annual audit in accordance with the requirements of financial legislation.

Arthur Azizov, founder and CEO of the B2Broker group of companies, which includes the B2BX project, noted:

“We are pleased to receive permission from the Estonian regulator. Due to this, B2BX will become one of the first operating regulated cryptocurrency exchanges in the EU countries. Of course, all users will have to go through a rigorous KYC procedure, which will actually complicate the registration process and start work, but at the same time such advantages as fiat gateways, increased limits for automatic withdrawals, safety of funds and low commission costs will block the disadvantages of KUS for all clients. ”

B2BX positions itself as an exchange for professional traders and institutional clients. According to representatives of the project, B2BX works exclusively with highly liquid cryptocurrencies, such as BTC, ETH, NEM, LTC, XRP, NEO, Monero and DASH, as well as major stable tokens, including USDT, USDC, GUSD, PAX and TUSD.

It is also noted that the exchange will not serve customers from the United States, Japan, North Korea and Iraq.

In 2019, the company plans to apply for registration and obtaining a license in other countries as part of a global strategy. The project team notes that obtaining a license in Estonia will make it easier for B2BX to obtain similar permits in other jurisdictions, as it creates a positive precedent.

B2BX is a project of B2Broker, which provides technology solutions for crypto and Forex industries, including services of a liquidity provider and turnkey solutions such as White Label cryptobirds, White Label crypto and Forex broker. The company has offices in Moscow, Hong Kong, Tokyo and Cyprus.

Earlier, BlockchainJournal, in cooperation with B2Broker, released a special project dedicated to creating its own cryptocurrency business.

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