TALLINN, ESTONIA – FintechX OÜ’s Kriptomat platform has been granted registration as a virtual asset service provider by Banco de España, the national bank of Spain. Kriptomat is one of only five non-resident entities to register cryptocurrency exchange and custody services within the country.
This is one of the year’s biggest steps toward Kriptomat’s vision of being recognized as Europe’s number-one crypto platform.
With a population of more than 45 million, Spain is home to more than 1 million crypto owners. But until now, crypto companies lacked explicit guidelines for operating within the country legally. Kriptomat’s achievement of VASP status means that Spanish customers now have a secure, easy-to-use, fully regulated platform for buying, selling, and investing in crypto.
“This achievement, which allows us to offer crypto services to customers in Spain, is the culmination of a long, demanding effort,” said Kriptomat Group Chief Operating and Integrity Officer Dejan Davidovic. “It serves as tangible evidence of our commitment to regulatory compliance in Europe and across the globe. And it opens the world of secure, regulated cryptocurrency trading to millions of Spanish consumers.”
As a registered provider of virtual assets, Kriptomat is subject to the Spanish central bank’s anti-money laundering and counter-terrorist financing regulations as well as advertising and communication guidelines created by Comisión Nacional del Mercado de Valores, the government agency responsible for regulating securities markets.
“We congratulate Spanish authorities for recognizing the importance of cryptocurrency and the need to protect consumers by issuing detailed, realistic guidance for crypto businesses,” Davidovic said. “We look forward to strengthening our excellent relationship with Spanish regulators in the years to come.”
Spanish crypto users and others interested in verifying Kriptomat’s status in Spain can check the Bank of Spain’s registry, where Kriptomat is listed as entity D718. The registry lists only 44 companies. Kriptomat is the only Estonian company listed, and one of only five non-resident entities registered for both exchange and custodial services.
“Spanish VASP status demonstrates our deep commitment to making the Kriptomat platform a trustworthy home for crypto users everywhere we do business – and a challenging inspiration for other platforms to follow,” said Davidovic.
About Kriptomat
Founded in 2018, Kriptomat revolutionized the cryptocurrency world with the introduction of the simplest platform in Europe. Kriptomat makes digital finance simple so everybody everywhere can access the freedom, fairness, and fulfillment that crypto represents. Hundreds of thousands of customers across Europe trust Kriptomat when they build and manage their crypto portfolios.
NOTE
This text is informative in nature and should not be considered an investment recommendation. It does not express the personal opinion of the author or service. Any investment or trading is risky, and past returns are not a guarantee of future returns. Risk only assets that you are willing to lose.
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