Kyrrex has Received VFA Class 4 License

Place/Date: Malta - November 24th, 2021 at 8:13 pm UTC · 4 min read
Contact: Kyrrex, Source: Kyrrex

Kyrrex has Received VFA Class 4 License

Kyrrex is a worldwide crypto-fiat ecosystem based in Malta. The company is very proud to announce that as of yesterday it has received a Class 4 virtual Finance asset (VFA) Licence from the Malta Financial service authority (MFA), the highest of its kind. This is a pivotal time for the company that will now become a leader in helping bridge the gap between the traditional financial world and the digital one.

Under the Class 4 VFA License, Kyrrex under the Real Exchange (REX), LTD  will provide its VFA services to experienced and novice investors in full compliance with the EU regulations. It includes VFA exchange management, own account transactions, custody and control of clients’ assets. Class 4 VFA License by the Malta Financial Services Authority (MFSA) makes Kyrrex one of the few cryptocurrency exchanges (ecosystem) to have received such high recognition.

Viktor Kochetov, CEO, Kyrrex Founder, noted:

“For Kyrrex, the Class 4 VFA License is the result of many years of hard work and sacrifice in the field of digital assets. In the last 5 years the company has worked hard in building its infrastructure, hardware and software. We showed the authority that Kyrrex can handle the highest level of strict requirements and long term commitments requested. Moreover, the license helps us to reach one of the main targets in our road map to success — to allow Investors and traders to be convinced that their funds are under protection and that all transactions are absolutely legal. In the future, the license will open up opportunities such as online banking, tokenization platform, margin trading. This is a pivotal moment for our company that will allow Kyrrex to develop its full potential as a leader in this field, thanks to the highest level of license we will be able to expand the range of our services for all types of users. We are building a fully regulated ecosystem that will ensure safety and fairness pricing to all.”

Kyrrex is well-known for its large number of trading instruments and offers a large volume of liquidity and high transaction processing speed for its customers. The company is now able to accept EU residents on its platform.

This highest type of license permits providing customers with a large pool of crypto-related products like trading, deposit program, crypto-fiat and fiat-crypto exchange, cryptocurrency payment services.

Viktor Kochetov, CEO, Founder Kyrrex, said:

“The number of digital assets in the world is growing rapidly and with it the necessity for clear regulations. Thanks to the Malta license, we are closer to achieve our goals quickly and decisively, namely to provide a wide portfolio of products for our clients. We are proud to lead the industry in regulatory compliance. This crucial moment will allow us to speed up the process in obtaining other licenses in the rest of the world.”

About Kyrrex

Kyrrex is a crypto-fiat ecosystem founded in 2018. It is a set of products and services necessary for users to work with digital assets daily. The main product is Kyrrex Crypto Exchange, where various cryptocurrency transactions are performed. Kyrrex is bridging the gap between the banking sector and the cryptocurrency markets by offering products and services relevant to a broad range of individuals and entities. Global accessibility combined with the reliability of traditional banking, reflects the platform’s versatility and novelty on a global scale.

To recall — on the 25th Oct Kyrrex has announced the launch of the presale round for its KRRX Token with a broad use across features and services and the exclusive benefits to the holders.

About Malta VFA license

Malta pioneered the Digital Financial Asset Services Act. The legislation has made Malta an ideal place for cryptocurrency giants. Each license contains a set of rules for business representatives. It is important to understand what business operations can be conducted with a license of the appropriate class. Class 4 VFA License is the highest level any digital players can obtain.