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Crypto.com became the first global cryptocurrency company and platform to receive an Electronic Money Institution (EMI) License from the Malta Financial Services Authority (MFSA). This is the first cryptocurrency platform receiving this license, according to a recently released official announcement.
Crypto.Com Receives EMI License in Malta
Crypto.com has received a new EMI License from the financial regulator of Malta. Thanks to this new license, the company will be able to issue cards and offer bank transfers to its clients. The main goal is to offer secure and compliant crypto solutions to clients around the world.
According to Kris Marszalek, the Co-Founder and CEO of Crypto.com, they have been working with regulators in order to increase crypto adoption.
In addition, he said:
“We are proud to lead the industry in regulatory compliance, ensuring consumer safety and protection in the EU and look forward to securing licenses in every country we operate in.”
It is also worth mentioning that this is not the first time in which Crypto.com receives a financial license. In the past, the company became the first crypto platform to receive a Class 3 Virtual Financial Assets (VFA) License from the same regulatory agency.
Furthermore, back in 2020, Crypto.com secured an Australian Financial Service License (AFSL). This shows the company’s effort to bring digital currencies to countries all around the world.
Malta is one of the most crypto-friendly jurisdictions around the world. A large number of crypto platforms and companies decided to move their offices to the country and start offering solutions to countries in the European Union.
The regulatory environment in Malta has been very crypto-friendly and the financial rules provide clarity and a legal framework where companies can operate. In the future, other firms could also receive the EMI License in Malta.