3 Nov 2020 | Finxflo
On November 2nd, 2020, Finxflo established the Cyprus office as a base of all the European operations. By doing so, the company is making a strong statement about the dedication to encompassing all world’s biggest markets through compliance with each individual set of regulations. Finxflo expects the new office to be in full and regulated operation in the first fiscal quarter of 2021.
Opening a European office beside the Singapore headquarters is another step towards bringing full-scale legal compliance to European clients. Cyprus regulations include 28 European states and thus, the company will be able to legally operate in all given jurisdictions. Therefore, through this move, the company offers its users an extra layer of legal security. While this is an uncommon approach in the cryptocurrency industry, that way, Finxflo establishes itself as a pioneer in the niche, especially in the fast-growing DeFi market.
Regarding the new European office, the CEO of Finxflo, James Gillingham said:
“We are extremely proud to be opening our Cyprus office and currently acquiring regulations. We have strategically selected this beautiful country as it stands out from a regulatory and structural framework view. Our aim is to become a world-leading regulated crypto brokerage. This new office location gives us further traction and a big step to help us obtain that goal.”
Regulations Benefit Users
The benefits of such an approach are many, especially for users since the rules of the game are now legally established and both sides (the company and a user) have to comply. This means that users can now be certain that the service provider (Finxflo) acts in accordance with the law and is audited by the regulators.
Furthermore, being compliant with regulations earns more trust with investors. Especially institutions, which only invest in a fully regulated environment. In this department, and because of its mentioned approach, Finxflo is a perfect crypto market onboarding platform for Europe-based institutions through its European office.
In turn, as more institutions enter the market, the global crypto adoption grows and all the market players benefit. Therefore, if cryptocurrencies are going to take another step towards global adoption, regulatory compliance is needed, and Finxflo already works towards that end.
The new Finxflo European office is located in Cedar Oasis Corner Arch. Makarios Avenue, Platonos Street Limassol, 3090, in Cyprus.
For more information, about the company and the project, please visit the links below: