Chain Acquires a European Cryptocurrency Service Provider to Enhance its Compliance License
On February 17, Chain, the blockchain infrastructure service provider, announced that it had acquired a European cryptocurrency service provider with a complia…
On February 17, Chain, the blockchain infrastructure service provider, announced that it had acquired a European cryptocurrency service provider with a compliance license, which will now operate as a new entity Chain Europe UAB. After the acquisition, Chain also launched the OTC trading system Chain Prime, aiming to enable customers to obtain deep liquidity through Chain Engine.
Chain, an infrastructure service provider, acquired European licensed entities and launched the OTC trading system Chain Prime
Interpretation of the news:
Chain, a premier blockchain infrastructure service provider, has made an announcement on February 17, 2021, that it has acquired a European cryptocurrency service provider with a compliance license. This acquisition has prompted the company to form a new entity called Chain Europe UAB, which will expand the company’s services within the European region.
Chain is committed to providing full-stack blockchain-related services that include decentralization infrastructure, smart contract development, and security audits. The company’s acquisition of a European cryptocurrency service provider with a compliance license ensures that they are well-positioned to continue delivering high-quality services with regulatory compliance.
The European compliance license means that Chain Europe UAB will be able to provide specific services in Europe, including fiat on-ramp service, payment services, and crypto-fiat trading. The acquisition of this service provider also means that Chain can provide its clients with additional regulatory compliance options within the region, further enhancing its reputation as a provider of services for a legally compliant business structure.
After the acquisition, Chain has launched the OTC trading system called Chain Prime. This new trading system is aimed at enabling customers to obtain deep liquidity through Chain Engine. This system allows trading in cryptocurrencies not available on major exchanges and supports large block trades of 100 BTC or more. The trading is performed on a bilateral basis, and prices are examined from multiple sources to provide the best execution. This service ensures that customers can purchase or sell their cryptocurrencies swiftly without affecting the market price significantly.
In conclusion, the acquisition of a European cryptocurrency service provider with a compliance license by Chain opens doors to increase its presence in Europe, gain market share, and deliver legally compliant services to its clients. The launch of Chain Prime OTC trading system further expands the company’s offerings and allows customers to trade cryptocurrencies not necessarily available on major exchanges.
Overall it seems like Chain is taking significant steps to position itself at the forefront of the cryptocurrency industry’s legally compliant blockchain-related services.
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