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December 08, 2022 - Digital asset trading company Nexo has announced its registration with the Ministry of Finance of Poland as a Virtual Assets Service Provider (VASP) in the country. This development in Poland builds on the crypto-native FinTech’s longstanding effort to grow the robustness of its compliance infrastructure and its recent registration as a Virtual Currency Operator with Italy’s Organismo Agenti e Mediatori (OAM).
The scope of this approval grants Nexo the right to provide services in Poland related to the intermediation of exchanges between virtual currencies and fiat means of payment, as well as the administration of customer accounts, custody, and transactions.
Antoni Trenchev, Co-founder and Managing Partner of Nexo, commented, “Our responsibility to both consumer markets and regulatory authorities is always top of mind, which is why we’re relentless in our pursuit of full compliance with both global and local jurisdictions. We recognize the potential in the Polish digital assets space, and we’re delighted to be able to expand Nexo’s user-oriented solutions in the country. From another viewpoint, this formal relationship with the Ministry of Finance in Poland signals our dedication to the industry and active engagement with regulatory bodies".
Nexo has a portfolio of over 50 authorisations globally.
Crypto usage in Pokand has doubled since 2019 and cities like Olsztyn have implemented blockchain solutions into their infrastructure. Poland is among the few jurisdictions actively defining its regulatory standards for cryptocurrency operations, further marking its progressive approach to blockchain finance. Nexo says that it aims to harness this potential and assist crypto adoption with its 360-degree product suite.
