Exciting news in the world of cryptocurrency exchanges! OPNX, the brainchild of Kyle Davies and Su Zhu, has just obtained a virtual asset service provider (VASP) license from Lithuania. This means that OPNX can now offer spot crypto exchange services all across the European Union. How cool is that?
High standards of compliance and security
Now, let’s talk about OPNX’s commitment to compliance and security. They take it very seriously! In fact, they have already implemented a robust Know Your Customer (KYC) and Anti-Money Laundering (AML) system to ensure they comply with all the regulations set by the EU. They want to make sure their users feel safe and secure while trading on their platform.
Leslie Lamb, the CEO of OPNX, couldn’t be happier about this achievement. She said, “Securing the VASP license from Lithuanian authorities is a significant milestone in OPNX’s worldwide expansion and our mission to serve crypto users across the globe.” It’s clear that OPNX is determined to make a mark in the crypto world!
However, it’s important to note that while this license allows OPNX to provide spot trading services throughout the EU, some specific jurisdictions within the EU may require additional licenses for certain services. But don’t worry, OPNX is actively working on acquiring these licenses so they can offer a wider range of services to their users.
Controversies facing OPNX and its reply
Now, let’s address the elephant in the room. They have faced some controversies due to its founders’ associations with prior bankruptcies in the cryptocurrency industry. Kyle Davies and Su Zhu were also involved in the bankrupt crypto hedge fund Three Arrows Capital (3AC), and Mark Lamb and Sudhu Arumugam founded the bankrupt crypto exchange CoinFLEX.
Some critics have raised concerns about the safety of using OPNX, but the exchange wants to set the record straight. They are actually helping bankruptcy creditors by enabling them to sell their bankruptcy claims and receive payments more swiftly. So, they’re doing their part to assist those affected by previous ventures.
Despite the controversies surrounding its founders’ past ventures, OPNX remains committed to meeting regulatory standards and expanding its services in line with the evolving cryptocurrency industry. They want to ensure that users can trade with confidence and trust in their platform.
With a strong focus on compliance and security, OPNX aims to serve the cryptocurrency community within the EU while actively working to obtain the necessary licenses for other services in specific EU jurisdictions. They’re determined to provide a seamless and secure trading experience for all crypto enthusiasts!
Conclusion
The newly licensed EU crypto exchange OPNX demonstrates a strong commitment to compliance and security despite controversies surrounding its founders’ prior failed ventures. OPNX aims to serve the European crypto community while obtaining additional licenses to expand services. By meeting regulatory standards and implementing robust KYC and AML systems, OPNX seeks to provide a trusted platform for spot trading. The exchange is also assisting previous bankruptcy creditors. Overall, OPNX is determined to move beyond past controversies by prioritizing users’ confidence and safety through regulatory compliance and security.
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