- LYOPAY Group has acquired two financial licenses that will enable the company to offer more crypto services to people and businesses.
- Both licenses are from Georgia and they enable LYOPAY and LYOTRADE to carry out Portfolio Management, versatile Digital Asset Trading, and Custody Services
- More jurisdictions and regions worldwide can be covered now with the newly acquired licenses, offering the company’s services in a legal and regulatory-approved manner.
- LYOPAY will continue to strengthen its regulatory framework to sustain a long-term secure global business.
LYOPAY Group has thrived from its immense growth in the past few years through building digital asset products and solutions to push the digital asset framework to other dimensions. Along with such business scaling, lies the vital need to plan out and execute how to offer the company’s services in a legal and regulatory-approved manner. This process requires a diligent exploration of strategies and concepts to answer two main questions:
- Do this financial license and the offered licensed business activities accurately represent and correspond to what our entity is trying to offer its clients?
- What jurisdiction, along with its laws and regulations, permits us in a regulated and fully compliant manner to carry forward such operations?
With LYOPAY constantly putting the above-mentioned strategies into force, it has now reached a new milestone and successfully obtained new full-fledged financial licenses for LYOPAY and LYOTRADE in several jurisdictions. Both licenses are from Georgia that enable our businesses to carry out top-tier activities such as Portfolio Management, versatile Digital Asset Trading, and Custody Services. These licensed business activities are the key enablers to permit our businesses to create decision-making processes of purchasing and selling digital assets while simultaneously managing portfolios to experience an overall growth in value.
The newly acquired financial licenses will authorize our entities to cover new services such as crypto-to-crypto, crypto-to-fiat, and custody asset management services in new jurisdictions and regions, and provide services to retail and institutional clients on a global scale. The next steps for LYOPAY and LYOTRADE are to build their regulatory framework and continue to cover their obligations and responsibilities towards acquiring the necessary licenses and regulatory approvals for their new projects.
For the LYOPAY Community
LYOPAY prides itself and is appreciative of being awarded these licenses in such a progressive field. This gives the company an opportunity to strategically offer what is lacking in today’s digital asset market, while embedding all Compliance and Anti Money Laundering controls into place to ensure that these serve as a rigorous regulatory oversight of its operations. LYOPAY and LYOTRADE acknowledge that the regulatory approval for their financial licenses positions them as key players in the Digital Asset field, as they will continue to have a robust commitment to maintaining the integrity of the financial services ecosystem for the clients and its community.