MAJURO, Marshall Islands, Aug. 11, 2022 /PRNewswire/ -- Gate.io Group announced that its Malta-based entity, Gate Technology Ltd., has obtained a Virtual Financial Assets (VFA) Service Provider license in Malta. Branded as Gate Malta, it's now allowed to operate a VFA Exchange and offer custodian services in or from Malta. In addition, Gate.io Group has begun expanding its Malta-based team to bolster localized business operations.
Dr. Lin Han, the Founder and CEO of Gate.io Group, said, "Malta is an early pioneer in regulatory frameworks that enable increased reliability and safety in the industry. Entering Malta marks the start of a push to meet regulations throughout the EU. We look forward to upholding our commitments to user welfare and responsible services, made possible in part by the country's healthy regulatory environment."
Malta was among the first countries to implement regulations for cryptocurrency-related activities. As a result, the tiny Mediterranean island nation has attracted crypto businesses worldwide seeking to meet the country's all-encompassing crypto legal framework.
Acquisition of the license, which is explicitly intended for VFA services, comes alongside a push by Gate.io Group to bolster user trust, forge new partnerships, and expand the accessibility of its comprehensive trading services. Obtaining licenses and meeting compliance is critical in cementing Gate.io Group as a reliable and well-regulated global digital asset service provider.
Gate.io Group has established a local office to ensure compliant operations and to provide resources to meet the needs of the local crypto ecosystem.
Through this new license, Gate.io Group is showing that it plays by the rules through its nine-year history of safe and reliable service and meeting compliance in regions with clear and well-rounded regulations. "Malta is an important first step in our European expansion and part of our broader global strategy. As we continue to accelerate expansion, more good news will come," said Dr. Lin Han.
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