Estonia Rewards Nearly 500 Crypto Exchanges And 400 Wallet Businesses With Licenses

Estonia Grants Crypto Exchange Software Provider Ibinex The License To Sell

Ibinex, who are a New York-based provider of institutional white-label solutions for exchanges, and cryptocurrency trading software, has recently been awarded a license to operate in Estonia.

Ibinex provides custom technology development and professional services, for new startups and existing organizations within the financial markets. Their range of services includes the web, mobile, and network configurations. Ibinex can provide clients with a stand-alone Crypto Wallet for Mobile, which they can brand and offer to customers through Google Play and Apple apps – providing additional layers of branding and revenue. Custom reporting can be utilized for specific needs and customized to integrate with 3rd party services (for regulatory and compliance purposes).

Bitcoin, Ether, Litecoin, Dash and a range of ICO currencies are available on tap. They provide both user platform interfaces and API based trading & liquidity solutions. Their cryptocurrency list currently includes modern coins (BTC, ETH, DASH, LTC); and can add or make a market for a range of others. Ibinex supports multiple API connections and can connect with most mainstream FX platforms for retail spot and institutional trading. White label costs and fees are variable, based on the needs of the clients.

Simon Grunfeld, the CEO of the firm says that the Framework also governs providers of virtual currency wallet services. Ibinex will deliver hot and cold wallet (custodial) services within the regulatory framework. The company generates unique security keys for clients or keeps the clients’ encrypted keys, for safeguarding, storing and transferring virtual currencies.

To elaborate on this point he added: “This is the first of many licenses and registrations to come; Ibinex is excited to be one of the first licensed exchanges to be in accordance with Estonian legislation.”

The Estonian license enables companies to provide a variety of services related to exchanging cryptocurrencies. The newly acquired permit compliments the firm’s membership in the Financial Commission since August 2017.

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