Gate Global UAB, the Lithuania-based entity of Gate.io Group, has completed its registration as a Virtual Assets Service Provider (VASP) in Lithuania, which allows Gate Global UAB to provide both cryptocurrency exchange and wallet services in or from Lithuania in compliance with local anti-money laundering and counter-terrorist financing (AML/CFT) laws and regulations.
Gate.io Group Founder and CEO Dr. Lin Han said, “Within every country we operate in, we seek to meet and exceed regulatory safeguards. Providing users with a reliable and safe experience and working with governments to meet their expectations will always be our primary goals when entering new regions.”
“Lithuania has been extremely proactive in creating a healthy environment for digital asset companies. Their compliance and controls align with our commitments to reliable, safe, and compliant operations.”
Gate Global UAB is building a local team to oversee business operations in the country and offer products tailored to the region. Being a small Baltic European Union nation, Lithuania was among the early countries to spearhead crypto-friendly regulations, forming a welcoming regulatory environment for crypto exchanges.
The new registration announcement comes during accelerated global expansion from Gate.io Group. Seeking to reach more users worldwide, the exchange is aggressively pursuing licenses and registrations in multiple regions with healthy crypto regulatory outlooks.
Established in 2013, Gate.io Group is one of the pioneers in the crypto industry. It has established a comprehensive ecosystem, which includes a cryptocurrency exchange, public blockchain, decentralized finance, research and analysis, venture capital investing, wallet services, startup incubator labs and more.
Gate.io is a leading global cryptocurrency exchange under Gate.io Group. Gate.io offers services related to the trading of multiple leading digital assets, and it has grown to serve over 10 million users around the world. It has been consistently ranked as one of the top 10 cryptocurrency exchanges based on liquidity and trading volume on CoinGecko and has received a rating of 4.5 by Forbes Advisor, making it one of the Best Crypto Exchanges for 2021.