Blockchain firm Multiwallet will launch a Europe-targeted crypto
custodial service regulated by Maltese regulators, the company revealed
to Cointelegraph at the Malta Blockchain Summit last week.
Claiming to be fully compliant with Malta's existing initial
requirements for a crypto custodial service, Multiwallet is now seeking
a custodial license from the Maltese government . As told to
Cointelegraph, the upcoming custodial service will be regulated by the
Malta Financial Services Authority and the Malta Digital Innovation
Authority to operate legally as a tool of
managing cryptocurrency transactions across Europe.
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While Multiwallet claims to be fully compliant with the existing draft
rules for operating a crypto custody, Malta's government is still
developing and finalizing the relevant legislation, which will
reportedly take another 12 months. Meanwhile, Multiwallet will
cooperate with Maltese authorities to stay informed about a due
regulatory framework for running a licensed crypto custody service.
The Multiwallet platform is reportedly based on technology by global
multicurrency custodial walletFreewallet, which offers exchange services
for 25 cryptocurrencies including major coins Bitcoin, Ethereum,
Litecoin, and others.
While the Freewallet platform supports both web and mobile devices
such as iOS and Android, Multiwallet is currently available only on the
web, with its mobile app to be reportedly released in 2019.
As a crypto and blockchain- friendly country, Malta has become a global
hub for the development and adoption of blockchain technology.
In early July, the Maltese Parliament passed three bills concerning
transparent regulation for both the crypto and blockchain fields, as
well as attracted a number of major crypto trading platforms such as
the world's largest crypto exchange Binance , OKex , and BitPay to open
offices in the country.
Most recently, Malta's government announced the launch of a national
taskforce in order to develop an artificial intelligence strategy,
intending to provide a friendly regulatory environment similar to the
one adopted for blockchain technology.
custodial service regulated by Maltese regulators, the company revealed
to Cointelegraph at the Malta Blockchain Summit last week.
Claiming to be fully compliant with Malta's existing initial
requirements for a crypto custodial service, Multiwallet is now seeking
a custodial license from the Maltese government . As told to
Cointelegraph, the upcoming custodial service will be regulated by the
Malta Financial Services Authority and the Malta Digital Innovation
Authority to operate legally as a tool of
managing cryptocurrency transactions across Europe.
ADVERTISEMENT
While Multiwallet claims to be fully compliant with the existing draft
rules for operating a crypto custody, Malta's government is still
developing and finalizing the relevant legislation, which will
reportedly take another 12 months. Meanwhile, Multiwallet will
cooperate with Maltese authorities to stay informed about a due
regulatory framework for running a licensed crypto custody service.
The Multiwallet platform is reportedly based on technology by global
multicurrency custodial walletFreewallet, which offers exchange services
for 25 cryptocurrencies including major coins Bitcoin, Ethereum,
Litecoin, and others.
While the Freewallet platform supports both web and mobile devices
such as iOS and Android, Multiwallet is currently available only on the
web, with its mobile app to be reportedly released in 2019.
As a crypto and blockchain- friendly country, Malta has become a global
hub for the development and adoption of blockchain technology.
In early July, the Maltese Parliament passed three bills concerning
transparent regulation for both the crypto and blockchain fields, as
well as attracted a number of major crypto trading platforms such as
the world's largest crypto exchange Binance , OKex , and BitPay to open
offices in the country.
Most recently, Malta's government announced the launch of a national
taskforce in order to develop an artificial intelligence strategy,
intending to provide a friendly regulatory environment similar to the
one adopted for blockchain technology.
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