The region will service retail and institutional clients, and seek to align the company’s EU presence in accordance with new Markets in Crypto-Assets (MiCA) legislation.
CHICAGO, Aug. 24, 2023 (GLOBE NEWSWIRE) -- CEX.IO, a global ecosystem of products and services that connects people and businesses to the cryptocurrency economy and decentralized finance (DeFi), is expanding its services in Lithuania. With the acquisition of a Virtual Asset Service Provider (VASP) license, and the hiring of a dedicated Money Laundering Reporting Officer (MLRO) for the country, the company is investing further in its European presence.
The new licensure marks a continuation of the company’s rigorous, global AML/CTF approach, which centers transparency and compliance as a means to encouraging broader crypto adoption. Vilhelmina Giedrime, CEX.IO’s new MLRO for the country, will liaise with the Bank of Lithuania and the Financial Crime Investigation Service (FCIS) to guide efforts in the emerging sector. Chief tasks will include supporting the implementation of guardrails once Markets in Crypto-Assets (MiCA) is passed into local legislation.
“Our commitment to ethical crypto stewardship has always been rooted in the user experience,” said Arina Dudko, Director of Lithuania and Global Head of Corporate Payment Solutions. “After a decade of working with regulators to better safeguard the wealth and information of all market participants, this expansion is a culmination of those efforts. In this next chapter, we look forward to strengthening our EU footprint, and equipping users with the tools they need to find success in the digital economy.”
With new offices and staff in Lithuania, CEX.IO is strengthening its regulatory framework in Europe, and opening an additional vector for the company’s award-winning ecosystem of crypto solutions. Retail users can enjoy greater oversight and protections alongside full-service custodial wallet functionality, and a curated selection of DeFi capabilities.
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CEX.IO was founded in 2013 with a mission to support global financial inclusion through the adoption of cryptocurrency and blockchain technology. As one of the most tenured market participants, CEX.IO offers a comprehensive ecosystem of intuitive solutions built with safety and security at their core, enabling users to trade, store, transfer and earn digital assets. With over six million registered users globally, CEX.IO helps retail, enterprise, and institutional customers seize opportunities in decentralized finance every day. Learn more at CEX.IO or connect with us on LinkedIn.
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