Gate.io Group reported that its Malta-based subsidiary, Gate Technology Ltd., has acquired a license in Malta to be a Virtual Financial Assets (VFA) Service Provider. It may now establish a VFA Exchange and provide custodian services in or from Malta under the moniker Gate Malta. Since then, the Group has also begun expanding its crew in to better adapt to the local market.
The acquisition of this VFA-specific license is part of Gate.io Group’s strategy to increase the adoption of its trading services, strengthen existing relationships with institutional investors, and win over new customers. If Gate.io Group wants to be seen as a reputable and well-regulated worldwide supplier of digital asset services, the firm must get the necessary licenses and comply with all applicable laws and regulations.
Gate.io Track Records and Prospects with Gate Technology LTD
Gate.io was incorporated in 2013 and has always made it a priority to provide the most satisfactory possible trading experience to its customers. The company is one of the top 10 crypto exchanges in the world in terms of trading volume. This makes it one of the best places to trade cryptocurrencies.
With this new license, Gate.io Group is proving that it respects the regulations, which it has done for the last nine years by providing safe and dependable service and respecting the laws in locations where they are clear and well-rounded.
Malta is a vital first step in team’s strategy to develop in Europe and is also a part of our bigger plan to grow globally. Gate.io Group has also established a regional office to ensure activities are legal and provide the local crypto ecosystem with the tools it needs.
Notably, Malta was one of the first jurisdictions to have regulations in place for activity linked to cryptocurrency. In order to follow Malta’s strict crypto laws, crypto firms from all over the world have flocked to the island nation.
Dr. Lin Han, the Founder and CEO of Gate.io Group said:
“Malta is an early pioneer in regulatory frameworks that enable increased reliability and safety in the industry. Entering Malta marks the start of a push to meet regulations throughout the EU. We look forward to upholding our commitments to user welfare and responsible services, made possible in part by the country’s healthy regulatory environment. “