In the global fintech market, obtaining a compliant financial license is a crucial step for any exchange aiming for international expansion.
This week, UPTX officially announced that it has successfully obtained a cryptocurrency exchange and wallet operator registration license from the Financial Crime Investigation Service (FCIS) of Lithuania. This license not only highlights UPTX’s progress in global compliance and regulatory efforts but also marks another expansion of its international operations, following its acquisition of the U.S. MSB (Money Services Business) license and membership in the National Futures Association (NFA).
The acquisition of the virtual currency business license from Lithuania’s Financial Crime Investigation Service represents a significant milestone in UPTX’s entry into the European market. This will help UPTX expand its services to cover local businesses engaged in trade with developing countries, expatriate professionals working in Lithuania, and cryptocurrency investors.
UPTX is committed to bridging the gap between developed and emerging markets through its legal operations in Lithuania. In the future, UPTX plans to apply for a securities license from the Cyprus Securities and Exchange Commission to further expand its business in Europe and provide more comprehensive financial services to its global users.
UPTX’s Chief Compliance Officer stated, "We will continue to ensure that UPTX complies with local laws and regulations in all our operating markets, providing our global users with the highest quality financial services.