Ibinex, a company that specializes in white-label solutions for cryptocurrency exchanges, has obtained a license to operate in Estonia. Besides exchange services, it also plans to offer both hot and cold wallets within the regulatory framework of the tech-savvy, crypto-friendly Baltic nation.
Also read: Estonia Grants Licenses for Wallet and Exchange Services to Coinmetro
EU Registered Exchange and Wallet Provider
Authorities in Estonia have granted a license to Ibinex, a provider of white-label solutions for crypto exchanges and cryptocurrency trading software. In a post in the news section of its website, the company called the development “a big feather in the cap,” noting that it compliments its membership in The Financial Commission, an independent self-regulatory organization, since August, 2017.
The new Estonian license will allow Ibinex to provide a wide variety of exchange services and solutions for cryptocurrency traders, including fiat to crypto, crypto to fiat, and crypto to crypto transactions. The firm effectively enters the cryptocurrency exchange sector as a trading platform registered in an EU jurisdiction.
Ibinex is not going to restrict itself to only exchange operations. The company plans to start providing crypto wallet services, as well – both hot and cold wallets, which will be offered within the Estonian regulatory framework, the press release quotes its Chief Executive Officer, Simon Grunfeld. Ibinex will generate unique security keys for its users and will safely keep their encrypted keys. The platform will also offer storage and transfer of cryptocurrencies for their clients.
“This is the first of many licenses and registrations to come. Ibinex is excited to be one of the first licensed exchanges to be in accordance with Estonian legislation,” Grunfeld commented. The CEO of Ibinex also noted that “We’re seeing more formations of
