By Alicia Maher
Even though the EU is yet to approve Ukraine to become one of its members, EU regulators have given operational license to one of the leading crypto exchanges in Ukraine, Qmall.
Running Operations Across The EU
The approval gives Qmall the license to run its operations across EU jurisdictions. This is no mean fit for an exchange launched last year. Despite being relatively new to the crypto exchange scene, Qmall boasts nearly 120,000 users. Many industry analysts have attributed the fast rise of Qmall to its simplified payment systems and top-notch measures to safeguard users’ digital assets and its very low spread (which is the lowest among other exchanges).
The platform also leveraged the experience of its co-founders, which has seen the exchange become the first government-approved crypto exchange in Ukraine. Hence, the analysts also agreed that the approval by Ukrainian authorities might be one of the reasons the EU granted Qmall an operational license this quickly.
Taking Qmall Beyond Europe And Across The World
Qmall’s co-founders have always reiterated that the primary objective is to make the exchange a global brand and the world’s leading crypto exchange. Hence, they would keep expanding their line of services to achieve this lofty objective. The founders see this approval to operate across Europe as a huge milestone toward becoming a global brand.
Interestingly, Qmall had to establish a subsidiary in Lithuania before the EU granted its approval request. However, the Qmall team needs to realize that the EU approval makes it mandatory for it to perform at the highest level of expectation, such as an adequate report of possible money laundering situations. The good news is that Qmall has nothing to fear as long as it doesn’t contradict the transparency it had been conducting its operations since its launch last year.
A Huge Benefit For Qmall And Its Users
Many Small users are already rejoicing over this good news. Their excitement is that they can now access Euro trading pairs immediately after the payment gateway becomes connected. For these Qmall currency traders, the side benefit of trading Euro pairs is that they have more ways to profit more from their trading activities.
Furthermore, the approval is an opportunity for many more traders to get acquainted with Qmall’s token, which will soon be launched. Also, the company can expect a huge inflow of new users as many will be attracted to use their services based on the stellar reputation they’ve established in the last 12 months. Aside from the benefits to Qmall users, the company stands a better chance of securing partnerships with top brands across Europe and making huge gains in the process.
One can imagine a Qmall launchpad and Sophia Antipolis. Tech analysts have likened Sophia Antipolis to US’s Silicon Valley. The Antipolis occupies 2,500 land hectares, with nearly 3,000 firms owning their headquarters there. Such are the kind of possibilities Qmall can expect through this new regulatory approval.