Blocktrade.com has overcome one of the biggest hurdles experienced by most Crypto exchanges; getting full regulatory clearance. The Liechtenstein based exchange is now preparing to serve the Cryptocurrency customers in Europe after obtaining certification from the Financial Markets Authority. Crypto users will be more than happy dealing with a licensed exchange as they will feel more secure. The new move will help in enhancing the use of virtual currencies such as bitcoin, ethereum, and litecoin among others in Europe and beyond. This is an indicator that Cryptocurrencies are here to stay.
The World’s First Fully Licensed Crypto Exchange To Be Launched
Blocktrade.com has been licensed by the Financial Markets Authority, an agency under the European Securities and Markets Authority (ESMA) to provide Crypto exchange services. The exchange is expected to become the first one in the world to obtain such certification. This is good news for the Liechtenstein-based exchange as it will help the exchange penetrate the Crypto market more easily.
Why The Full Regulatory Clearance Is Important
Speaking after obtaining the certification, Blocktrade CEO, Luka Gubo noted that despite the increasing popularity of Cryptocurrencies in recent years, the financial institutions have no access to the market. He added that Blocktrade will enable the institutions to participate in the marketing further enhancing the use of Cryptocurrencies. Blocktrade will be the new bridge, linking financial institutions with the Cryptocurrencies.
In recent times, there have been debates in different regions with regard to Cryptocurrencies. Some people have been against recognition of the Cryptos as a digital asset. According to Gubo, the new move will pave way for different regulators in Europe and beyond to recognize virtual currencies as assets. Moreover, it will compel such regions to introduce regulatory frameworks for the new digital assets.
Many Institutional investors have been wary of dealing with unregulated Crypto exchanges as they are risky and have a limited degree of transparency. There are more than 170 crypto trading platforms and the fact that they are not licensed hinders the participation of more people in Crypto trading.
Gubo says that there are various fund managers who are already willing to enter the Crypto market. However, the lack of fully licensed platforms has been pushing most of them back. The new licensed exchange will give them more confidence to invest in Cryptocurrencies. Gubo also added that proper regulation can also help in reducing the volatility common in the Crypto market and allow more institutions to take part in the sector.
About Blocktrade And How It Will Work
Blocktrade.com is a company that will be providing Cryptocurrency exchange services. Currently, only the registration process is going on. The exchange will start running towards the end of September. Upon the launch, the new exchange will be supporting Ripple’s XRP, Litecoin, Bitcoin Cash, Ethereum, and Bitcoin.
The exchange is capable of processing over a million transactions every second. Towards the end of the years, the users of this exchange will have access to Tokenized Assets, Safety Data Sheets, and Cryptocurrency-Run Indices. Moreover, the company is working towards improving its performance.