Xcoins, a cryptocurrency exchange platform, announced on Monday it received its Class 3 Virtual Financial Asset (VFA) License issued by the Malta Financial Services Authority (MFSA). The company claims it was one of the first cryptocurrency exchanges to receive these permissions from MFSA.
Founded in 2016, Xcoins claims to offer a quick and secure means of exchanging Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Bitcoin Cash (BCH). The company has served more than 250,000 customers from more than 165 countries worldwide.
“Allowing our users to be a part of investing in the future is only a small part of our mission. Cryptocurrencies allow our users to diversify their financial portfolio and be a part of, what we believe to be, a bright financial future.”
Xcoins went on to explain that receiving its Class 3 VFA license from the MFSA means that its’ internal processes and policies are in line with the highest standards in the industry. Speaking about the license, CEO and Founder at Xcoins, Rob Frye, added:
“We’re proud to announce that we’ve received our VFA licensing from the MFSA. Being one of the first cryptocurrency platforms to achieve this milestone means that we can keep paving the way for a more secure and regulated industry. Xcoins is leading the way as digital assets gain popularity worldwide.”