Blockchain technology firm Fineqia International Inc. (CSE: FNQ) (OTCPink: FNQQF) (Frankfurt: FNQA) announced on Wednesday the launch of its new blockchain and cryptocurrency investment subsidiary company in Malta. Fineqia reported that it established in Malta in order to hold its growing portfolio of blockchain, fintech, and cryptocurrency technology companies globally.
According to Fineqia, Malta was selected for its advanced regulatory framework that qualifies and regulates blockchain and cryptocurrency companies. CEO of Fineqia, Bundeep Singh Rangar, stated that Malta checks a lot of the boxes as a crypto-friendly market.
”Choosing a jurisdiction where the legal and regulatory frame is in sync with emerging technology and new financial instruments is as important as selecting sound investment opportunities in the first place.”
Along with the subsidiary, Fineqia is also set to test issuance and administration of bonds backed by crypto assets. The firm’s U.K. subsidiary, Fineqia Limited, was also accepted into the FCA Regulatory Sandbox recently. Bundeep Singh Rangar noted that by being accepted int the FCA Regulatory Sandbox, it helps his team to develop new asset class within the regulatory protected environment offered by the program:
“It’s testimony to the team’s effort and commitment toward a disciplined and compliant rollout of a new financial product. Worldwide demand for borrowings against crypto holdings is increasing and with this test, we intend to demonstrate our ability to successfully tap into this growing market.”