Crypto.com receives Electronic Money Institution (EMI) License From Malta

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Crypto.com has announced that it is the first global cryptocurrency platform to receive an Electronic Money Institution (EMI) License from the Malta Financial Services Authority (MFSA)

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In a week full of firsts for Crytpo.com, the company has announced its latest news in the form of a license approval out of Malta. The company has received the Electronic Money Institution (EMI) license from the Malta Financial Services Authority (MFSA).  

The license now grants the popular crypto card company the opportunity to issue cards and offer bank transfers directly to consumers. 

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The latest announcement comes just two months after the company received a Class three Virtual Financial Assets (VFA) license from the MFSA. 

Speaking on the news, Crypto.com CEO Kris Marszalek admitted that the company is driven to ensure it is a fully regulated business, “Working with regulators is the best way to fulfill our mission of accelerating the world’s transition to cryptocurrency. Being the first global cryptocurrency platform to receive an EMI License from the MFSA is a major milestone for the industry as a whole. 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,” he stated. 

 Crypto.com not stopping there

The company has also recently acquired an Australian Financial Service License (AFSL). Three months later, Crypto.com also announced that it received Principle Membership with card payment processor, Visa. The company expects to roll out Visa cards in Australia in the future. 

Sports Partnership deals also rolling in 

It seems like the good news for Crypto.com does not stop. The EMI License approval comes days after the company announced two major sporting partnership deals. The company is now the first-ever global official fight kit partner of the UFC, and also the first-ever official cryptocurrency platform partner of the UFC. The platform also announced that it is now the official global partner of Formula 1, and inaugural partner of the F1 ‘Sprint’ series. 

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Ryan is a Fintech specialist with a passion for cryptocurrencies and blockchain adoption. A keen trader and investor in the market since 2016, he enjoys keeping up to date with the latest developments within the industry while finding the next 100x altcoin.

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