Multiwallet Debuts, Europe’s First Regulated Custody Service

Announcements, FinTech, Regulation | November 17, 2018 By:

Multiwallet, a digital storage software, is going to become Europe’s first custody service regulated by the Malta Financial Services Authority and the Malta Digital Innovation Authority. The wallet is a legal means of managing, sending and receiving digital currency in Europe.

Nick Petrov, the CEO of Multiwallet, called the regulated custodial wallet “a huge step for us as a crypto-community, as it opens an opportunity for us to build a secure financial institution for our users.”

The technological basis of the new multi-currency wallet is the Freewallet technical platform. The wallet is currently available only on the web, but mobile apps will be released next year, according to the company.

The Multiwallet was announced at the Malta Blockchain Summit.