IronX crypto exchange secures regulatory licence in Estonia
IronX, a new Crypto Exchange joint venture between global online broker IronFX Group and EmurgoHK, creator of the Cardano blockchain, has been awarded full regulatory licence approval by the Estonian Financial Intelligence Unit (FIU).
This licence allows IronX to operate as a fully regulated exchange for the trading of cryptocurrencies.
Estonia, a full EU member-state, adopts a ‘pro-innovation’ approach towards the advancement of DLTs and cryptocurrency regulation and has utilised blockchain technology in its own health, judicial, legislative, security and commercial code registries since early 2012.
The new licence allows IronX to operate as a: provider of a virtual currency against a fiat currency exchange service; and a provider of a virtual currency wallet service.
IronX says the granting of the licences, a month earlier than expected, will provide increased security for cryptocurrency traders and users of its new cryptocurrency exchange.
Founder & Chairman of IronFX Group, Markos A Kashiouris, says: “We have brought all our years of experience in regulated online derivative and commodity trading to create this new seamless trading platform for our customers. Being awarded regulatory approval, which was one of our key milestones in our whitepaper, means we now stand apart from many of our competitors in the sector, allowing investors, both private and institutional, to trade cryptocurrencies, within in same protected environment as they would trade forex, commodities, equities and other long-established tradable assets.”
The IronX Exchange is expected to launch by the end of September with a priority opening for VIP IRX token holders to its beta version and official launch to the public planned for December 2018.