PR: Bibox Gains Swiss VQF License – Accelerating Global Expansion
Popular trading platform expands to the EU. “Earning a license is an important step for our global expansion", says technical expert of Bibox Jeffery Lei.
The cryptocurrency trading platform Bibox announced the acquisition of Chain Capital, a Swiss firm headquartered in Zurich. This strategical step allows Bibox to expand its cryptocurrency business in Europe.
To note, Chain Capital is a successful fintech startup that possesses a VQF license. This license is provided by the largest cross-industry Self-Regulatory Organization (SRO) that complies with standards developed by the Financial Services Standards Association (FINMA). It is obligatory for all VQF members to satisfy the strictest requirements, and all their operations should be performed with the complete adherence to Anti-Money Laundering Act in Switzerland.
Bibox’ users are distributed among more than 10 countries and regions all around the world, including Estonia, USA, Switzerland, Singapore, Canada, China, Japan, and South Korea. According to the August report, their count has surpassed 1 million already. Statistical research by CoinMarketCap shows that daily trade volume of Bibox is around $200 million.
“Earning a license is an important step for our global expansion. We are planning a comprehensive research and blockchain technology adaptation in our applications, and also review some investment projects in the field of distributed ledger that, we are convinced, must continue developing,” says technical expert of Bibox Jeffery Lei.
Bibox can be proud of getting into the top-10 list within just six months in which co-founders’ experience, knowledge, and professionalism played a great role. In the past, Jeffery Lei was the Marketing Operation Manager / Product Manager at Huawei. Later, he was involved in OKCoin establishment. Another Bibox’ co-founder, Aries Wang has gained crucial analytical experience being the author of Crypto Economics and working in North American blockchain market.
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