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TenX receives E-Money-license – launch of debit cards?

The Singaporean crypto Start-up TenX reported the receipt of an E-Money license in Europe. Thus, it is according to the press release, the first by the ICO-fund

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TenX receives E-Money-license – launch of debit cards?

The Singaporean crypto Start-up TenX reported the receipt of an E-Money license in Europe. Thus, it is according to the press release, the first by the ICO-funded companies, that the Status of a regulated financial institution holds.

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13. June 2019BTC$8.207,00 , and 0.92%part Facebook Twitter LinkedIn xing mail

As the company on 13. June announced, issued by the Liechtenstein financial market authority (FMA) of the company TenX the Status of a financial institution. The permit, which the authority already on the 29. May, exhibited, allowed the company to operate as a so-called Electronic Money Institution (EMI). In order TenX from Singapore financial services may offer throughout the European economic area.

TenX has. Europe in focus

After TenX had already been sent at the beginning of this year, the first crypto-debit cards in the Asian region, could point to the announcement that the European clientele of the series is In a Video Statement, in which CEO Toby Hoenisch at 17. January of this year, took, among other things, the position of the Causa Hosp, was able to call the managing Director for the delivery of the cards in Europe, however, still no concrete date. At that time it was called by Hoenisch:

The next step will be Europe. We work with partners in Europe to get a license [for the sale of the cards].

This seems to be well managed.

The CEO had stressed in the same Statement, again, that in spite of the resignation of Julian Hosp as President of TenX of the European continent continues to be a focus region of Start-ups is.

when exactly can we in this country expect the delivery of the crypto-debit cards, which represent the core product of the company, it is not clear from the message, however.

cards in the Asian region successfully

launched In the so-called APAC (Asia-Pacific economic space) were customers of the cards already hold. The press release is that they enjoy some popularity. Of more than 100 percent growth in terms of Use of the TenX Card the speech is. In particular, the use is for smaller sums in the foreground. Because about 62 percent of purchases where the debit card is used, makes the clientele in Bars, Restaurants, grocery stores and gas stations.

CEO Toby Hoenisch:

The crypto-Winter [...] is over and it will not take long until crypto-currencies Mainstream. [...] We have already had overwhelming support by our maps Rollout in APAC. Now we are pleased to be able to this in Europe do.

Liechtenstein is the Blockchain-the country

That TenX has just received in Liechtenstein the permission to operate as EMI, however, it is not a coincidence. The Principality ruled already for a long time as a kind of Hub for crypto and Blockchain-companies – with appropriate regulatory Support from the authorities.

Liechtenstein is committed to offer technology-oriented companies the best legal and administrative framework. This is in connection with our long-standing Tradition as a core financial centre in Europe. The decision of TenX, its core activities in Liechtenstein, build and actively to Liechtenstein Blockchain Ecosystem, contribute to, shows that the strategy of Liechtenstein from the market is well accepted,

congratulates Thomas Duenser, Chairman of the office for financial market innovations in the Principality of Liechtenstein, of the company to the success.

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