The IronX crypto exchange announced on September 17 that it has been awarded full regulatory license approval by the Estonian Financial Intelligence Unit (FIU). IronX is the new crypto exchange joint venture between EmurgoHK and IronFX Group.
As part of its drive to set the industry standard, this regulatory license will allow IronX to operate as a fully regulated exchange for the trading of cryptocurrencies. It will be one of the first exchanges in Europe to seek and receive this level of approval from the FIU.
The IronX crypto exchange chose to obtain its license in Estonia, as the country is known for its high level of governance with its pro-innovation approach towards cryptocurrency regulation and the advancement of DLTs. This new license will facilitate the IronX exchange to operate as a provider of virtual currency against a fiat currency exchange service. It will also allow the exchange to operate as a provider of a virtual currency wallet service.
By establishing a regulated and modern digital exchange, IronX will help in increasing the adoption and awareness of cryptocurrencies and crypto trading. This will lead to a more secure, efficient and better-serviced trading environment to the early adopters of this exciting niche of the financial services market.
Markos A. Kashiouris, founder and Chairman of the IronFX Group said that they brought all their years of experience in regulated commodity and online derivative trading to create this new seamless trading platform for its customers. The IronX exchange is expected to be launched by the end of September, with a priority opening for VIP IRX token holders to its beta version. The official launch is planned for December 2018, as stated in the Finextra news report.
The IronX crypto exchange will enable a safe and easy transition from the mass retail market into the crypto market. The exchange will offer a customer-centric and quality focused service leveraging on its existing regulatory and operational practices, solutions, processes and real operating company functions including, risk management, account management, back-office and payment and banking solutions, as mentioned in its website.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]