Tylt Expands in the EU with Full VASP Licensing
By Tylt Editorial Team
Jan 3, 2025
Read time
4
minutes
We’re thrilled to announce that Tylt has taken a significant step in its journey to offer secure and compliant cryptocurrency payment solutions. By acquiring a licensed Virtual Asset Service Provider (VASP) in Poland, VORTIMAN SP. Z O.O. , a 100% owned subsidiary of TLX Labs Inc., Tylt is now authorized to provide virtual asset services across the European Union.
This milestone underscores our commitment to adhering to the highest standards of regulatory compliance, ensuring that our users in the EU can transact with confidence, security, and transparency.
What is a VASP License?
A Virtual Asset Service Provider (VASP) license is a regulatory certification that allows companies to offer services related to virtual assets, such as cryptocurrency payments, exchanges, and custodial solutions. Holding a VASP license signals that a company adheres to stringent regulatory standards, including anti-money laundering (AML) and counter-terrorist financing (CTF) protocols.
Tylt’s acquisition of VORTIMAN SP. Z O.O. provides the legal framework for us to operate as a fully licensed VASP across the EU, bringing added credibility and assurance to our growing user base.
How MiCA Strengthens the EU’s Crypto Ecosystem
The Markets in Crypto-Assets (MiCA) regulation, set to roll out across the EU, aims to establish a comprehensive legal framework for cryptocurrency operations. It provides guidelines for the issuance, trading, and custody of crypto assets, ensuring market stability, transparency, and consumer protection.
Key aspects of MiCA include:
Enhanced Safeguards: MiCA enforces strict compliance with AML/CTF measures, reducing risks associated with illicit activities.
Consumer Protection: Users gain access to clear and enforceable rights, improving trust and confidence in crypto services.
Market Stability: A unified regulatory framework ensures that all participants operate under consistent standards, fostering a competitive and fair environment.
By securing a VASP license under the current regime, Tylt is strategically positioned to fully comply with MiCA as it comes into effect, reinforcing our commitment to proactive compliance.
Why Regulation and Compliance Matter
The cryptocurrency industry has long faced challenges related to trust and security. Regulations like MiCA and licensing requirements for VASPs address these concerns by creating a safer and more transparent ecosystem.
For Tylt, regulatory compliance is not just a requirement—it’s a cornerstone of our philosophy. We believe that aligning with regulatory standards offers several benefits:
User Protection: Safeguards like AML and CTF protocols ensure that users’ funds and data are secure.
Transparency: A licensed status reassures users that Tylt operates ethically and transparently.
Global Acceptance: Regulatory compliance enhances Tylt’s credibility, paving the way for partnerships and adoption on a global scale.
How This Benefits Tylt Users in the EU
With our newly acquired VASP license, Tylt is now empowered to offer compliant and secure services to our users in the European Union. Here’s what this means for you:
Legal Assurance: As a licensed VASP, Tylt adheres to EU regulations, providing you with confidence and peace of mind.
Enhanced Services: The VASP license allows us to expand our offerings, including secure crypto payment processing, custody solutions, and more.
Consumer Protection: Our compliance with AML, CTF, and MiCA ensures that your transactions are conducted in a safe and regulated environment.
Future-Ready Platform: With MiCA on the horizon, Tylt is already aligned with its principles, ensuring a seamless transition as the regulation comes into effect.
A Word from Tylt
This acquisition and licensing represent a monumental step forward for Tylt and our users. By integrating robust compliance and regulatory safeguards into our operations, we are building a platform that stands for trust, security, and innovation.
As we expand our presence in the EU, we remain committed to delivering cutting-edge payment solutions while upholding the highest standards of integrity and compliance.
Looking Ahead
The crypto industry is evolving, and so are we. By aligning with global regulations and acquiring the necessary licenses, Tylt is paving the way for a more secure and user-centric future in digital payments.
We’re excited to continue our journey with our users in the EU, delivering seamless, compliant, and innovative payment solutions.
For more information about our services or how the VASP license enhances your experience with Tylt, visit our website or contact us directly.
Experience Secure Crypto Services Across the EU with Tylt!
Join Tylt as we expand into the EU with full VASP licensing, offering safe, compliant, and innovative cryptocurrency solutions for all your needs.
