China-based crypto exchange Gate.io's parent company, Gate Group, has
received a license
in Italy to operate as a registered virtual asset service provider in the country through its Italian arm, Gate Italy s.r.l.
The license was granted to the platform by Italy's regulatory agency, Organismo Agenti e Mediatori (OAM).
The new license will allow the platform to offer crypto and digital asset services in Italy in compliance with the country's regulations.
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The authorized services include the use of digital assets, operating crypto exchange, virtual currency transfers, clearing services, and digital wallet services.
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Gate Group's founder and
CEO
, Dr. Han Lin, said the new license is an important milestone for their entry into the European market.
- Lin also added that the license represents a significant achievement in terms of the firm's compliance-focused global expansion strategy.
In March, Gate.io also launched a
crypto debit card
in Europe in collaboration with payments services giant Visa through its Lithuania-based subsidiary, Gate Global UAB, revealing its commitment to the European market one more time.
