Cryptocurrency exchange OPNX has achieved a major milestone, obtaining a virtual asset service provider (VASP) license from Lithuania. This allows the exchange to provide spot crypto exchange services within the European Union.
Leslie Lamb, CEO of OPNX, said, “Securing the VASP license from Lithuanian authorities is a significant milestone in OPNX’s worldwide expansion and our mission to serve crypto users across the globe.”
The exchange is committed to high compliance and security standards. To ensure it meets EU regulations, OPNX has implemented a robust Know Your Customer (KYC) and Anti-Money Laundering (AML) system.
Although the license grants OPNX permission to offer spot trading services throughout the EU, further licenses may be needed to offer other services in specific jurisdictions. OPNX is actively pursuing these additional licenses to extend its service offerings.
OPNX has faced controversy due to its founders’ associations with previous bankruptcies in the cryptocurrency industry. However, the exchange claims its services are helping bankruptcy creditors by allowing them to sell their claims and receive payments more quickly.
The licensing of OPNX in Lithuania means the exchange can now offer spot crypto trading services to a wider European audience. As it continues to focus on compliance and security, OPNX is striving to obtain the necessary licenses for other services in various EU jurisdictions.