Gate.io gets VFA license in Malta

Gate Technology Ltd., an entity of the Malta-based Gate.io Group, has been issued a Virtual Financial Assets (VFA) Service Provider license in the Mediterranean country, Coin Journal reports. press releaseWe currently operate a VFA exchange and can provide custodian services from or in Malta.

Strengthening local business operations

The Gate.io Group has also started expanding its Malta-based team to strengthen its localized business operations. Group CEO and Founder Dr. Lin Han commented:

Malta is an early pioneer of a legal framework that allows for increased safety and reliability. Entry is the beginning of efforts to comply with EU-wide regulations. We take seriously our commitment to responsible service and user well-being, made possible in part by the country’s sound regulatory environment.

Regulatory Pioneer

Malta is one of the first jurisdictions to introduce crypto-related regulations. The small island nation attracts cryptocurrency companies from around the world with the aim of complying with a comprehensive cryptocurrency legal framework.

Increase user trust and form partnerships

The issuance of this license, expressly intended for the VFA service, comes in parallel with Gate.io Group’s efforts to form new partnerships, strengthen user trust, and facilitate access to comprehensive trading services.

Being compliant and licensed are both important to ensuring Gate.io Group is a well-regulated and trusted global digital asset service provider.

Ensuring local compliance

The group established a local office to ensure compliance and make available resources to meet the requirements of the local crypto ecosystem.

The newly acquired license demonstrates Gate.io Group’s commitment to compliance throughout its nine-year history of safe and reliable services, meeting requirements in jurisdictions with clear and comprehensive regulations is shown.

Dr. Han added:

Malta is an important first step in our expansion in Europe and part of our broader global strategy. This is just the beginning and we continue to accelerate our expansion.