New York, Jan. 31, 2025 (GLOBE NEWSWIRE) -- Recently, the leading digital asset trading platform RexoSwap announced its formal support for Tonga's Bitcoin payment pilot project, helping the country establish a more modern digital payment infrastructure. As a compliant trading platform holding a U.S. MSB (Money Services Business) license, RexoSwap will provide decentralized finance (DeFi) solutions for the Tongan market while strictly adhering to global financial regulatory requirements to ensure all transactions are legal and compliant.
Compliance First: RexoSwap Ensures Safe and Legal Transactions
RexoSwap consistently prioritizes global compliance and has obtained a U.S. MSB license while actively seeking financial regulatory licenses in multiple countries to ensure all transactions align with various legal frameworks. In this Bitcoin payment pilot project, RexoSwap will strictly follow international anti-money laundering (AML) and know your customer (KYC) regulations to ensure the safety of user assets and mitigate illegal transaction risks.
RexoSwap's Chief Compliance Officer (CCO) Rachel Edwards stated: "We are committed to providing a legal and secure digital asset trading environment for global users. RexoSwap strictly adheres to local regulatory requirements in all operational regions and will continue to maintain compliance in the Tongan market, ensuring all transactions meet international financial standards."
Technical Support Provided by RexoSwap
As the core technology partner for this Bitcoin payment pilot, RexoSwap will launch three core solutions in Tonga to ensure the stability, security, and compliance of the digital payment system:
1. Decentralized Wallet Service
- Allows users to store, manage, and trade Bitcoin without relying on traditional banks.
- Utilizes self-custody wallet technology, ensuring users have complete control over their assets while complying with international AML regulations.
2. Localized Payment Gateway
- Launches a compliant payment system that enables users to safely use Bitcoin for transactions with merchants and online.
- Provides stable fiat currency exchange channels for government agencies and businesses, allowing digital currency to seamlessly integrate into daily economic activities such as salary payments, public service fees, and commercial transactions.
3. Legal and Compliant Trading Environment
- RexoSwap will establish strict KYC and AML mechanisms in the Tongan market to ensure the transparency and security of all transactions.
- Employs multi-factor authentication and on-chain monitoring technology to prevent fraudulent activities and ensure the legal compliance of the trading platform.
Strengthening Regulatory Cooperation to Promote Global Compliance Development
As a global exchange, RexoSwap is committed to enhancing communication and cooperation with financial regulatory bodies in various countries. Upon entering the Tongan market, RexoSwap plans to establish a compliance cooperation framework with local financial regulators to ensure that the Bitcoin payment pilot project fully complies with local and international financial regulations.
RexoSwap's Chief Financial Officer (CFO) Laura Bennett stated: “Compliance is at the core of RexoSwap's operations. We always prioritize financial transparency and the safety of user funds, ensuring that all transactions on the platform are legal and compliant. In the future, we will continue to work closely with various regulatory bodies around the world to promote the healthy development of the digital asset industry.”
Currently, RexoSwap has initiated a fiat channel audit process to ensure the transparency and traceability of the funds involved in Bitcoin payments, meeting the regulatory requirements of various countries.
Strengthening Regulatory Cooperation to Promote Global Compliance Development
RexoSwap's technical support not only enhances the compliance of Bitcoin payments in the Tongan market but also provides a technical template for the future global Bitcoin payment system. As an exchange with global compliance qualifications, RexoSwap plans to expand into more countries and regions, promoting the legalized application of Bitcoin payments and creating a stable, secure, and compliant digital financial ecosystem for global users.
RexoSwap remains committed to global compliance operations. This Bitcoin payment pilot not only ensures a legal trading environment in the Tongan market but also reaffirms RexoSwap's leading position as a safe, compliant, and trustworthy global trading platform. In the future, RexoSwap will continue to collaborate with financial institutions worldwide to promote the healthy development of the digital asset industry, allowing digital finance to benefit more global users.
Media Contact
Contact: Thomas M. Quinones
Company Name: RexoSwap Ltd
Email: Thomas@rexoswapex.com
Website: https://trade.rexoswapex.com
Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.
CONTACT: Thomas M. Quinones RexoSwap Ltd Thomas (at) rexoswapex.com
