Bequant gains VFAA licences for exchange and prime brokerage
07 May 2021 Malta
Image: krivinis/adobe.stock.com
The Malta Financial Services Authority (MFSA) has approved a class 3 Virtual Financial Assets Act (VFAA) license to Bequant Pro to provide Virtual Financial Asset (VFA) services as a prime brokerage to experienced investors.
The license will see Bequant Pro provide custodian and nominee services, reception and transmission of orders, execution of client orders on behalf of other persons, and dealing on own account and placing of VFAs.
Meanwhile, Bequant Exchange has been granted a class 4 VFAA licence to provide the following VFA services to non-experienced and experienced investors.
Services include operating a VFA exchange, custodian and nominee services, execution of client orders on behalf of other persons and dealing on own account.
The licenses granted in principle in January this year.
Bequant Exchange and Bequant Pro were incorporated in August 2018 in Malta, to take advantage of the digital assets framework that was introduced by the MFSA in 2019.
Both companies have been operating in Malta under the provisions of the VFA Act.
Bequant CEO George Zarya, comments: "Our licences are the culmination of years of hard work. We have been collaborating with the MFSA since 2018 to embrace regulations in the digital assets industry as a forerunner in this space.”
“Our Class 3 VFAA Licence serves as the epitome that we are able to bridge the gap between traditional finance and digital assets by delivering a regulated prime broker that connects the digital assets ecosystem from exchanges and custodians to participants,” Zarya adds.
The license will see Bequant Pro provide custodian and nominee services, reception and transmission of orders, execution of client orders on behalf of other persons, and dealing on own account and placing of VFAs.
Meanwhile, Bequant Exchange has been granted a class 4 VFAA licence to provide the following VFA services to non-experienced and experienced investors.
Services include operating a VFA exchange, custodian and nominee services, execution of client orders on behalf of other persons and dealing on own account.
The licenses granted in principle in January this year.
Bequant Exchange and Bequant Pro were incorporated in August 2018 in Malta, to take advantage of the digital assets framework that was introduced by the MFSA in 2019.
Both companies have been operating in Malta under the provisions of the VFA Act.
Bequant CEO George Zarya, comments: "Our licences are the culmination of years of hard work. We have been collaborating with the MFSA since 2018 to embrace regulations in the digital assets industry as a forerunner in this space.”
“Our Class 3 VFAA Licence serves as the epitome that we are able to bridge the gap between traditional finance and digital assets by delivering a regulated prime broker that connects the digital assets ecosystem from exchanges and custodians to participants,” Zarya adds.
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