B2BX Exchange, a professional digital asset trading platform, announced on Monday it has received approval for a regulatory license from the Estonian Financial Intelligence Unit (FIU). B2BX, which is part of the B2Broker group of companies, reported that the license means it will be able to operate as a completely regulated exchange for trading cryptocurrencies. It considers itself one of the first exchanges in Europe to secure this form of recognition.
The platform also reported that it applied for its license in Estonia due to the country’s reputation for being highly innovative and technology-friendly. Furthermore, the EU-member country continues to take a leading stance in the advancement of blockchain technologies and cryptocurrency regulation. B2BX noted that license will open the door for its exchange to provide an extended level of services which currently includes a crypto-to-crypto service and soon to be crypto-to-fiat, as well as providing peace of mind for users by way of increased transparency and security due to strict KYC procedure adherence.
Speaking about the license approval, CEO and Founder of B2Broker group, Arthur Azizov, stated:
“We are delighted to have secured regulatory approval from Estonia, placing B2BX Exchange in the enviable position of being one of the first exchanges to achieve this accolade. I have long been a proponent of regulation which I believe will promote further the adoption of cryptocurrency usage and cryptocurrency trading. Our users will be able to benefit from an enhanced level of protection, safe in the knowledge that they are dealing with a world-leading, regulated cryptocurrency exchange.”
B2BX is a full-featured spot trading platform which allows users to trade major digital assets and cryptocurrencies, including Bitcoin, Ethereum, NEM, Litecoin, Ripple, NEO, Monero, NEM, and Dash.