The expansion will include new trading pairs with the Euro and several other fiat currencies. The platform will also be actively involved in streamlining token approvals in the nearest future.
According to Tass, Bittrex International during its expansion to Liechtenstein, will ensure that it adheres strictly to all the regulatory and legal expectations of the Liechtenstein parliament. To build trust, the platform will make use of either the Trustworthy Technologies Act or the Blockchain Act.
Bittrex in charge of its customer compliance regulations
Bittrex is looking to carry out its customer compliance regulations on its own. This will entail a thorough Know Your Customer process (KYC) and Anti-Money Laundering process (AML). The Blockchain Act and the customer compliance system will help ensure transparency and build users’ trust in the platform.
Bill Shihara of Bittrex International with regard to the expansion said:
“We are delighted to launch Bittrex International in Liechtenstein and offer our clients access to such a well-established financial center in the heart of Europe. This is a unique opportunity for Bittrex International to bring our world-class technology and security to a market with great infrastructure, strong, open-minded regulators, and a well-educated financial services workforce.”
Speaking further, Shihara said that the company is pleased with its expansion to Liechtenstein. In his statement, Shihara said the company will take care of its clients needs with ‘well-established financial center in the heart of Europe.’ Describing Liechtenstein, Shihara called it a haven with good infrastructure, praising its regulators as ‘strong, open-minded.’
Adding that,”The Liechtensteiner government and regulators are taking a very proactive, pro-business approach looking to foster innovation in blockchain, which fits perfectly with our mission, and we applaud them for their work.”