Crypto.com has obtained an Electronic Money Institution License from the Malta Financial Services Authority.

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Crypto.com announced in a blog post that it has obtained an Electronic Money Institution License.

Issued under Crypto.com’s legal name, Forix Dax, the EMI License will allow the company to provide payment services and bank transfers to its customers in Malta. Crypto.com has thus become the first cryptocurrency company to receive this license in the country.

The company’s statement states that it has been working closely with the Malta Financial Services Authority (MFSA) to obtain the license. The company also underlines that they comply with the legal framework in other countries where it operates.

Crypto.com co-founder and CEO Kris Marszalek shared his thoughts on the subject:

“From day one, we are committed to building a fully regulated business. Working with regulators is the best way to fulfill our mission of accelerating the world’s transition to cryptocurrency. Being the first global cryptocurrency platform to receive an EMI License from the MFSA is an important milestone for the industry as a whole.”

Crypto.com had previously applied for a different license to operate in Malta. The company recently became the first global cryptocurrency company to obtain a Class 3 Virtual Financial Assets (VFA) License.