Coinweb, a Layer-2 cross-computing platform, announced today that it has obtained its digital asset exchange license in Lithuania, which allows the company to operate not only within the country, but with all other European countries without conflicting regulations. Coinweb’s regulatory approval will allow the platform to act as a virtual currency operator for both deposits and exchanges.
The Lithuanian license will help provide liquidity to Coinweb’s projects by enabling the platform to enter into relationships with traditional financial institutions. In addition, the acquired license will facilitate Coinweb’s wallet operation with fully-integrated Fiat Rail, allowing Coinweb’s incubated customers to issue and sell tokens at their customer bases under Coinweb’s regulatory umbrella.
Coinweb is actively working to obtain new licenses to comply with various worldwide judicial regulations. As one of the earliest members of the European Blockchain Partnership (EBP), Lithuania participated in the declaration of support for the provision of cross-border digital public services in compliance with established standards for security and privacy.
“Interactivity platforms like ours are designed to be flexible, and we apply the same standards structurally so that Coinweb and its partners can respond quickly to changes and innovations. With this Lithuanian license and our future jurisdiction, Coinweb will be able to provide more liquidity and enable projects to provide on- and off-ramp services for Fiat, which is key to space growth. “
– Toby Gilbert, CoinWeb CEO
In addition to licensing, Coinweb is working to strengthen its operations and create new projects on the platform, which will be launched later this year. Includes a new innovation function to ensure regulatory compliance for projects requiring the issuance of cross-chain tokens.