Today Bittrex International has announced that its digital trading platform will see expansion soon. It will soon cater to the ‘qualified’ users of Liechtenstein. The new changes on the platform include brand new trading pairs with Euro and many fiat currencies. In addition, we will be seeing the platform to streamline token approvals too in the coming times.
The expansion to the Liechtenstein region will adhere to the regulatory expectations and other legal expectations by the parliament of Liechtenstein. In order to ensure the trust factor, the system is making use of the Trustworthy Technologies Act or the Blockchain Act. The platform is planning to conduct its own local level customer compliance regulations too. This includes a thorough KYC (Know Your Customer process) and AML (Anti-Money Laundering process.) The presence of the Blockchain Act and the customer compliance system is a sure way of having transparent and trustworthy services in Liechtenstein.
Further, Bill Shihara of Bittrex International said,
We are delighted to launch Bittrex International in Liechtenstein and offer our clients access to such a well-established financial center in the heart of Europe. This is a unique opportunity for Bittrex International to bring our world-class technology and security to a market with great infrastructure, strong, open-minded regulators, and a well-educated financial services workforce.
Shihara further added that the company is delighted about the expansion of Bittrex International in Liechtenstein. As per Shihara’s statement, the company will cater the clients with- ‘well-established financial center in the heart of Europe.’ The company looks at this expansion as a great chance of serving with the company’s ‘world-class technology and security.’ Shihara further described Liechtenstein as a place with good infrastructure, and praised its regulators as ‘strong, open-minded.’ The workforce of the place was also appreciated as well-educated.
The fact that the Blockchain Act is getting considered in the parliament of Liechtenstein, it holds a promise of offering a sense of assurance to the companies that are functioning in the blockchain industry. Shihara further added the following,
The Liechtensteiner government and regulators are taking a very proactive, pro-business approach looking to foster innovation in blockchain, which fits perfectly with our mission, and we applaud them for their work.
A few days ago, on 12th June, the exchange mentioned about this launch. On the other hand, the exchange decreased the trading fee for the United States’ users. There is a promotional fee month which is being offered by the exchange, which ranges from zero makers to 0.15 percent taker variable. For those accounts that have made not less than 30K U.S. Dollars in trading volume since they ventured on the exchange, the crypto platform will lower the fees to the aforementioned promotional level, as per the announcement.