Canada Central Bank Has Given RevoluGROUP Its Approval For Listing On The Crypto EU Registry.
The publicly traded Canadian investment company RevoluGROUP has just issued a press release announcing that the Bank of Canada (BoC), which is the central bank of Canada, has officially granted the firm inscription approval as one of Europe’s first authorized Crypto Stored Value and Crypto Trading entities.
The Central Bank’s primary objective with regard to registration inscriptions is to guarantee complete compliance with all international rules of AML criteria, in addition to the prevention of both the laundering of illicit funds and the funding of terrorist organizations.
As the first financial institution in all of Pan-Europe to achieve Central Bank Crypto Stored Value and Crypto Trading Registration in accordance with legally enforceable Pan-European MiCA regulations, RevoluGROUP said that with its flagship Neobanking technology, RevoluPAY, aims to revolutionize the way money is transferred and stored throughout the continent.
RevoluPAY’s unique, industry-specific technology was developed exclusively by its parent-company RevoluGROUP, and the source code generated as a consequence is considered the company’s intellectual property. Built-in features of RevoluPAY include a crypto-to-fiat exchange, retail payments, real estate payments, phone top-ups, and more.
It is anticipated that the exceptional flexibility of RevoluPAY to operate as both a licensed Sovereign Currency financial institution and a Central Bank-approved crypto operator would draw a significant amount of interest within the cryptocurrency sector.
Although, the certification comes at a time when regulatory authorities in the EU have required comprehensive DCE and crypto legislation. Fears of actual and imminent worldwide regulation are driving many of the largest cryptocurrency DCE firms to make urgent efforts to continue their rapid expansion while simultaneously achieving the obligatory legitimacy required by regulators.