Zondacrypto, a cryptocurrency startup registered in Estonia, has continued expanding in Europe with the latest over-the-counter (OTC) license in Switzerland. Announced yesterday (Monday), the company highlighted that it is “one of the most prestigious and difficult to obtain [license] in Europe.”
“We are now licensed as a legitimate cryptocurrency business in Switzerland, which means that we are able to provide users with a suite of OTC services,” the official announcement added.
Zondacrypto Is Now Regulated in Switzerland
Zondacrypto offers cryptocurrency exchange services, which include fiat-to-crypto and crypto-to-crypto conversions. As seen on its website, the exchange supports four fiats, the euro, the US dollar, the Polish zloty, and the British pound, along with dozens of cryptocurrencies.
The exchange obtained the Swiss license after receiving a digital asset services license in Slovakia. Although the Slovakian government doesn’t require crypto asset providers to operate with an official license, it will ensure that the company complies with anti-money laundering and terrorist financing rules. It also holds licenses in Italy and Lithuania and is planning to obtain regulatory approvals in the UK and Canada.
However, Zondacrypto (previously Zonda) is known for its presence in Poland, where it is the largest crypto exchange, capturing a significant portion of the Eastern European market. The crypto exchange claims to have more than a million users across Europe.
Another Strategic License
Mentioning the latest Swiss license, the company stated: “This is yet another step in the direction set out by the rebranding that happened earlier this year, when we announced the creation of our own crypto ecosystem. We continue our dedication to bridging the gap between Web2 and Web3 technology, with the help of state-of-the-art blockchain solutions and secure, regulated crypto services.”
Besides strengthening regulatory approval, the crypto exchange focuses on expanding its products. It will launch the zondacrypto token; however, it did not disclose the timeline for these events.
“With the Swiss licence now, we are also looking forward to launching our own exchange service that will allow traders to buy and sell crypto and fiat, trading with the company rather than other users,” the exchange noted.
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This article was written by Arnab Shome at www.financemagnates.com.
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