Nexo, which claims to be the “leading” regulated institution for digital assets, has announced its registration “with the Ministry of Finance of Poland as a Virtual Assets Service Provider (VASP) in the country.”
This development in Poland “builds on the crypto-native FinTech’s longstanding effort to grow the robustness of its compliance infrastructure and its recent registration as a Virtual Currency Operator with Italy’s Organismo Agenti e Mediatori (OAM).”
The scope of this approval grants Nexo the right “to provide services in Poland related to the intermediation of exchanges between virtual currencies and fiat means of payment, as well as the administration of customer accounts, custody, and transactions.”
Antoni Trenchev, Co-founder and Managing Partner of Nexo, said:
“Our responsibility to both consumer markets and regulatory authorities is always top of mind, which is why we’re relentless in our pursuit of full compliance with both global and local jurisdictions. We recognize the potential in the Polish digital assets space, and we’re delighted to be able to expand Nexo’s user-oriented solutions in the country. From another viewpoint, this formal relationship with the Ministry of Finance in Poland signals our dedication to the industry and active engagement with regulatory bodies.”
Nexo‘s commitment to delivering innovative solutions with strict regulatory compliance has led the enterprise “to sport a portfolio of over 50 authorizations globally.”
The registration with the Ministry of Finance in Poland is “a natural move for the enterprise towards the Central and Eastern European market and the vibrant cryptocurrency community to which it is host.”
Poland’s potential as a cryptocurrency hub and key regional center for digital finance “is undeniable, with crypto usage in the country having doubled since 2019 and cities like Olsztyn implementing blockchain solutions into their infrastructure.”
Poland is “among the few jurisdictions actively defining its regulatory standards for cryptocurrency operations, further marking its progressive approach to blockchain finance.”
Nexo aims “to harness this potential and assist crypto adoption with its 360-degree product suite.”