Zoompass Subsidiary Secures Approval From European Union (EU) to Launch Its Global Cryptocurrency Exchange
TORONTO, ON / ACCESSWIRE / February 23, 2021 / Zoompass Holdings Inc. (OTCQB:ZPAS) (“Zoompass”, the “Group” or the “Company”) is pleased to announce that its wholly owned subsidiary Virtublock OU has secured the approvals and in-region business relationships necessary to launch its global cryptocurrency exchange in the European Union (EU.)
This approval provides the company with the end-to-end support infrastructure necessary to operate a global cryptocurrency exchange based in the EU, with key items including:
- Crypto and e-Wallet entity licenses through our Estonian entity Virtublock OU
- Corporate banking services
- Settlement and processing banking services
- Legal representation, compliance and audit team through our partnership with Oblicity Estonia
Completion of this critical milestone supports the Company’s strategic plan and paves the way for the launch of a global cryptocurrency exchange with support for institutional and retail investors, integration with partner exchanges and a first-of-its-kind affiliate program.
“Securing the necessary approvals, agreements and relationships in the EU marks a significant milestone,” says Manny Bettencourt, CEO of Zoompass Holdings Inc. “We have spent the necessary time and met the due diligence requirements to secure the necessary licenses and a network of best in class service providers such as Oblicity for legal and compliance and Mister Tango for settlement banking. This announcement aligns with our vision to provide an infrastructure highway for crypto exchanges and blockchain services. We are proceeding with our plans to launch this technology leading global cryptocurrency exchange with confidence.”
The Company’s Software as a Service (SaaS) delivered cryptocurrency exchange is currently undergoing testing and integration with EU accredited 3rd party providers for the Know Your Customers (KYC), Anti-Money Laundering (AML), and cyber security protocols.
Zoompass is a global innovator in the SaaS world, focused on deploying blockchain and digital solutions including exchange solutions utilizing existing and new protocols as well as asset tokenization solutions. The company continues to build out its digital payment infrastructure for onboarding and offboarding as well as its next generation web-based technologies and software solutions for both private and public sectors.
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SOURCE: Zoompass Holdings, Inc.
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