CEX.IO has announced that it has received “in-principle” status for the Distributed Ledger Technology (DLT) licence issued by the Gibraltar Financial Services Commission (GFSC). This means that the company has reached the final stage in Gibraltar’s innovative and robust authorisation process to satisfy the conditions required by the GFSC.
CEX.IO has been working as a self-regulated cryptocurrency exchange following industry best practices since it was first established in 2013, and has always aimed to meet the regulatory requirements of the countries in which they operate. Understanding the vital contribution to engendering customer confidence that is made by appropriate regulation, in 2015 in the US, CEX.IO registered as a Money Services Business with the Financial Crimes Enforcement Network (FCFN). Besides its application for a DLT Provider Licence in Gibraltar, the company is working closely with regulators in various jurisdictions that include Cyprus and the UK.
Since 2013, CEX.IO has become a multi-functional cryptocurrency exchange that can boast over a million users. It offers cross-platform trading via its website, its mobile app, WebSocket and REST API and provides access to high liquidity order books for the top currency pairs on the market. With a simplified bundle interface, it makes instant selling and buying of Bitcoin easily available.
Customer confidence and trust are essential features of the CEX.IO services. Besides its actively seeking authorisations and licencing with regulators across the countries that they operate in, the company places a strong focus on security, with two-factor authentication, anti-hacker protection measures and the use of multi-signature Bitcoin addresses. The customer support services offered operate 24/7 with team members trained to a high standard in order to provide fast and effective responses to customers.
CEX.IO offers trading opportunities for Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Zcash and Dash, which can be exchanged for USD, EUR, GBP or RUB. Payment options include Visa and Mastercard as well as wire transfers, creating a convenient and fast trading service.
Openness and transparency, the company believes, are essential to developing customer confidence and expanding the take-up of cryptocurrency in general. Regulation is a vital part of this and the company is delighted to have achieved the ‘in-principle’ status, which brings them that much closer to achieving full DLT Provider status in Gibraltar and demonstrates CEX.IO’s continuing commitment to raising the bar in terms of industry standards.