Nexo said it was registered as a Virtual Service Provider in the Country under the supervision of the Polish Government. The development follows crypto-native FinTech's recent registration as a Virtual Currency Operator with Italian Organismo Agent Mediatori.
Consent given, To help Nexo in Poland exchange between virtual currency and communication money payment instruments, as well as the administration of customer accounts, privacy and gives the right to provide transaction-related services.
Nexo's founder and managing partner Antoni Trenchev, “At the same time, the responsibility towards both consumer markets and regulatory authorities is always in mind, therefore we are careless in our quest for full compliance with global and local jurisdictions." We recognize the performance in the field of Polish digital assets and are delighted to have expanded Nexo's fully user-oriented solutions in the country. From another point of view, the official relationship with the Polish Ministry of Finance, is an indicator of our commitment to the sector and our active relationship with regulatory bodies.”
Nexo's commitment to finding innovative solutions through strict compliance with legal regulations, enabled the organization to have a portfolio of more than 50 competencies around the world. Registration with the Ministry of Finance in Poland, It was a natural and natural attitude towards the Central and Eastern European market and the vibrant cryptocurrency community it had hosted at home.
Nexo is said to be undeniable that with the use of cryptocurrency in the country doubling from 2019 to date, and cities like Olsztyn implementing blockchain solutions in their infrastructure, Poland's potential to become a cryptocurrency hub and key regional hub with digital finance is undeniable.
Poland is one of the few jurisdictions that actively defines regulatory standards for cryptocurrency transactions, further clarifying its progressive approach to blockchain financing. FinTech intends to take advantage of this potential and help crypto adoption with its 360-degree suite of products.