Stratis obtains VASP listing from Spain’s central bank

Stratis obtains a Virtual Asset Service Provider (VASP) listing from Spain’s central bank, The Banco de Espana, following a strict appraisal of its compliance policies. This is about the anti-money laundering regulations. Through this, Startis will be allowed to provide crypto-to-fiat exchange and crypto custody solutions to users in Spain.

The company intends to provide crypto payment adoption solutions throughout the Spanish markets. For Startis, this is the chance to stand by Spain’s tourism and entertainment industry via crypto-adoption solutions, bringing more allure to the country’s nightclubs.

Regarding the VASP listing procedure, Stratis has connected with SEPBLAC, the country’s financial intelligence sector and supervisory authority, to prevent money laundering. This paves the way for the company to utilize its technology to support the release of a certified and one-to-one fiat supported Euro stablecoin. The use cases come with quicker, added automation and cost-friendly settlement via a stablecoin backed by fiat, which is becoming more welcoming for regulators.

In the words of the co-founder and CEO of Stratis, Chris Trew, they are in a better situation for allowing crypto conventionals to purchase and utilize any digital asset from businesses throughout Spain.

The listing will lead Stratis to scour the release of a certified Euro stablecoin, which is changeable for fintechs.

Lately, Stratis delivered its latest Ethereum adaptable mainnet, which was created to back up decentralized finance (DeFi) and gaming purposes. The blockchain integrates zkSync, a Layer 2 upgrading service, helping to raise transaction output and lower transaction costs. Included is the bridging with various chains.

Where the involvement of Stratis with the UK’s FCA is concerned, the release of a certified GBP token is advancing.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

Related Articles

Back to top button