Gate.com Receives Malta PSD2 License to Enhance EU Crypto Payments

Gate Technology Ltd, the Malta division of the cryptocurrency exchange Gate, has secured a Payment Institution license under the European Union's PSD2 from the Malta Financial Services Authority. This approval enables Gate to expand its services across the EU, integrating traditional finance with Web3 capabilities.

Key Takeaways

Gate Technology has obtained a PSD2 license from the MFSA in Malta, allowing it to enhance crypto payment services in Europe.
The license positions Gate to connect traditional finance with Web3 technologies.
Gate’s compliance strategy encompasses several regions, including Malta, Cyprus, the Bahamas, Japan, Australia, and Dubai.
The platform, Gate.com, has over 49 million users and is one of the top three crypto exchanges globally.

Gate.com’s Malta unit secures MFSA PSD2 license for EU payments.

Gate.com Expands EU Payment Services with New License

Gate Technology Ltd, the Malta-based arm of the cryptocurrency exchange Gate, has announced that it has obtained a Payment Institution license under the European Union's Second Payment Services Directive (PSD2) from the Malta Financial Services Authority (MFSA). This significant step places Gate alongside other cryptocurrency-focused companies in Europe that have achieved this regulatory milestone.

Giovanni Cunti, the CEO of Gate Technology Ltd, expressed that this license empowers Gate to establish a vital link between traditional financial systems and Web3. It aims to offer compliant payment solutions to consumers across Europe. According to Cunti, this license creates a strong foundation for future financial services, providing regulatory clarity for both institutional and retail clients in the European market.

This latest development builds upon Gate's prior regulatory accomplishments in Malta, where the company had previously secured a Markets in Crypto-Assets (MiCA) license, permitting it to offer exchange and custody services.

Gate has implemented a compliance strategy that spans various jurisdictions, including Malta, Cyprus, the Bahamas, Japan, Australia, and Dubai. The PSD2 license allows Gate to broaden its payment services throughout the European Union by utilizing passporting rights. This facilitates the integration of traditional finance processes with Web3 applications.

Founded in 2013, Gate operates the flagship platform Gate.com, which serves more than 49 million users worldwide. The platform ranks among the top three cryptocurrency exchanges globally based on market share, as per company data.

Lastly, the announcement included a disclaimer highlighting that the content should not be considered an offer, solicitation, or recommendation, affirming that Gate may limit or prohibit services for users based in restricted areas.