Crypto Exchange CEX.IO Expands Operations In The US With New MTL Licenses

News, Regulation | July 8, 2019 By:

London-based cryptocurrency exchange CEX.IO has expanded its operations in the United States after receiving nine money transmitter licenses (MTL).

Established in 2013, CEX.IO provides a rich variety of trading tools for bitcoin, Bitcoin Cash, Bitcoin Gold, ethereum, Zcash, Dash, Ripple, Stellar, and Litecoin, and payment options including credit and debit cards as well as reliable and timely wire transfers. Since 2015, the firm has held Money Services Business status with FinCEN, a bureau of the US Department of the Treasury, allowing it to serve residents in states where MTLs are not required.

In a press release, CEX.IO said that it has received MTLs in nine US states, including Iowa, Kansas, New Mexico, Oklahoma, South Dakota, West Virginia, Maryland, Alaska and New Hampshire.

“Receipt of these new MTL licenses now further expands upon CEX.IO’s United States presence, as CEX.IO may now serve residents in 28 states, with plans to expand to all 50 states and US territories,” the company said.

Oleksandr Lutskevych, CEO of CEX.IO, said that the US customers have represented a significant portion of their client base from the very start of CEX.IO.

“We’ve always spent a lot of our effort and resources, serving this market, remotely up until now,” Lutskevych said. “A dedicated US presence will allow us to continue improving our services to our existing US clients and to focus on opening access to our platform to residents of states we have not covered before. Both meet the necessary regulatory requirements, specific for each state, and tailoring of our products to the needs of the US clients will be the cornerstone tasks for our team in America.”