The company, acquired in January by Elrond, plans to begin operating in Europe as a virtual asset service provider in several months, according to Coindesk.
Utrust, a Portugal-based on-chain crypto payments firm, has received a license from the Portuguese central bank (Banco de Portugal) to operate as a virtual asset service provider, Nuno Correia, Utrust co-founder and chief strategy officer, told CoinDesk on Wednesday.
Currently, Utrust is licensed and regulated as a crypto service provider in Estonia, which allows the company to also provide services in Portugal and the rest of the European Union. But Correia said the company plans to begin operating in those territories with its new license, which provides more reassurance to partners and customers because it’s issued by a central bank, in several months.
Utrust was granted the only full all-categories license authorized by Banco de Portugal so far, according to Correia. The license allows a company to offer exchange services between fiat and digital assets, and between digital assets. It also enables a firm to transfer virtual assets between wallets and offer virtual assets safekeeping services, according to an official document published by the monetary authority.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
