COINQVEST, a cryptocurrency payment gateway, and API solution, today announced the approval of its application for the European Union Virtual Currency Service Provider License from the Estonian Government. In addition to its current suite of online payment services, this allows COINQVEST to operate compliantly and provide custodial wallet solutions to clients as well as offer cryptocurrency and fiat exchange or cross-border remittance.
“It has always been one of our goals to provide compliant cryptocurrency payment processing in order to increase transparency and trust in blockchain-based payments in general, and our solution in particular. Obtaining a crypto license is a major cornerstone in the organizational development of COINQVEST and will help us build new business relationships faster.”
– COINQVEST Co-Founder, Stefan Schneider
COINQVEST offers an online cryptocurrency payment processor service for merchants looking to accept cryptocurrency payments. The product converts sales in cryptocurrencies such as bitcoin to a fiat currency stablecoin; then is transferrable to a non-custodial crypto wallet or exchanged and deposited to a bank account. With this license, COINQVEST can now also provide secure and convenient custodial wallets for merchants, complying with mandatory regulations as well as AML/KYC standards.
The COINQVEST platform is built on the Stellar Network, a leading blockchain in the market. Many companies, looking for solutions to bridge the gap between traditional and modern financial tools, choose Stellar as a foundation. Its transaction speed, native decentralized exchange (DEX), and secure protocols make it the ideal ecosystem for COINQVEST’s financial service.
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