MAJURO, Marshall Islands, September 5, 2022 /PRNewswire/ — Gate Global UAB, the LithuaniaGate.io Group-based entity, finalized its registration as a Virtual Asset Service Provider (VASP) in Lithuaniawhich enables Gate Global UAB to provide both cryptocurrency exchange and wallet services in or from Lithuania in accordance with local anti-money laundering and anti-terrorist financing (AML/CFT) laws and regulations.
Gate.io Group Founder and CEO Dr. Lin Han said, “In every country in which we operate, we seek to meet and exceed regulatory safeguards. Providing users with a reliable and secure 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, secure and compliant operations.”
Gate Global UAB sets up a local team to oversee business operations in the country and offer products suited to the region. As a small Baltic nation in the European Union, Lithuania was among the first countries to spearhead crypto-friendly regulations, forming a welcoming regulatory environment for crypto exchanges.
The new registration announcement comes amid the accelerated global expansion of Gate.io Group. Seeking to reach more users globally, the exchange is aggressively seeking licenses and registrations in multiple regions with healthy crypto regulatory prospects.
About Gate.io Group
Created in 2013, Gate.io Group is one of the pioneers in the crypto industry. It has built a complete ecosystem, which includes a cryptocurrency exchange, public blockchain, decentralized finance, research and analytics, venture capital investments, wallet services, incubator labs startups and more.
Gate.io is one of the world’s leading cryptocurrency exchanges under the Gate.io group. Gate.io offers services related to trading several leading digital assets, and it has grown to serve more than 10 million users across the world. It has consistently been ranked in the top 10 cryptocurrency exchanges based on liquidity and trading volume on CoinGecko and received a 4.5 rating from Forbes Advisor, making it one of the top exchanges in crypto for 2021.