Crypto ecosystem GLEEC secures nine regulatory licenses: Canada, Europe, Middle East, LATAM

Rick Steves

“We aim to create a crypto ecosystem with a balanced regulatory framework.”

GLEEC has announced it obtained nine regulatory licenses, across eight countries in the Middle East, Latin America, and Europe, allowing it to set up blockchain, crypto and financial infrastructure across several countries.

The British Columbia-registered crypto ecosystem offers users over 100 tokens in pairs to trade as well as other services, including a play-to-earn racing ecosystem in partnership with Buggyra Racing Team.

The crypto platform is powered by the GLEEC token, a Komodo Smart Chain-built coin with a total supply of 210 million coins that is available on several top centralized exchanges including Bittrex, HitBTC and the native exchange, Gleec BTC Exchange.

The GLEEC token comes with a range of functionalities on several applications and can be used to top up the Visa Gleec Card and pay for goods and services.

Dubai, El Salvador, Poland, Lithuania, Slovakia, Canada, Ukraine, Estonia

Five of the nine licenses were exclusively for crypto services and were obtained in Dubai, El Salvador, Poland, Lithuania and Slovakia. The other four include a Canadian MSB license and a Ukrainian EMI license for banking, with Lithuania and Estonia giving them cross-border transaction licenses.

GLEEC offers a crypto ecosystem focused on trading, metaverse and the Gleec Racing game and is committed to meet the highest standards for regulatory compliance t0 ensure trust among market participants and partners.

Daniel Dimitrov, Founder and CEO of GLEEC, said the licenses are a “directive to offer a growing local crypto ecosystem” and “a balanced regulatory framework” for their users. “The company is constantly [working] to attain global regulatory approval. We aim to create a crypto ecosystem with a balanced regulatory framework.”

GLEEC allowed to provide crypto custody, payments, exchange, trading

The company went through an intense path with each regulator in every jurisdiction in order for them to grant the license. The firm explained further the scope of the following licenses:

  • The El Salvador license aims to give users more utility in their crypto transactions, allowing the company to custody Bitcoin (BTC), provide BTC wallets, process crypto payments, act as a digital asset exchange and offer more services within the Bitcoin ecosystem.
  • The Canadian Money Services Business (MSB) license, on its part, allows GLEEC to perform foreign exchange dealings, issuing or redeeming money orders, money transferring and also dealing in virtual currencies.
  • The licenses obtained in Dubai (UAE) are fully focused on asset trading on cryptocurrencies. With the city planning to become the region’s hub of innovation and finance, the license draws users to the country, especially crypto companies and holders.

Read this next

Retail FX

Financial Commission adds Ultima Markets to membership roster

Multi-asset brokerage firm Ultima Markets, operating under the trading name Ultima Markets Ltd, has been granted membership of the Financial Commission, marking the most recent inclusion into the ranks of the self-regulatory organization.

Digital Assets

Bitcoin hits fresh record high amid massive short squeeze

Bitcoin has surged to record highs against both the euro and the pound, hitting €60,447 and £51,736 respectively on Coinbase. The primary cryptocurrency has seen an almost 7% increase in the past 24 hours.

Digital Assets

US court rules crypto trades as securities in Coinbase case

A US court ruled that trading crypto assets on platforms like Coinbase constitutes securities transactions.

Market News

Weekly Data: Oil and Gold: Brief Review before the NFP

This preview of weekly data looks at USOIL and XAUUSD where economic data coming up later this week are the main market drivers for the near short-term outlook.

Institutional FX

FXSpotStream reports lower volumes for February 2024

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for February 2024, which moved lower on a monthly basis.

Fundamental Analysis

Global FX Market Summary: EUR, USD, Gold March 4th,2024

US Dollar Weakness: The US Dollar (USD) is currently struggling to gain strength due to a combination of factors.

Technical Analysis

Bitcoin Technical Analysis Report 4 March, 2024

Bitcoin cryptocurrency can be expected to rise further toward the next resistance level 69000.00 (former multiyear high from January)

Opinion

Finding Opportunity in Challenge: Why New Regulations Offer a Chance For Business to Get on Top of Data Management

The combination of CESOP, PSD3 and the PSR, has put businesses under new pressures. In this engaging article, André Casterman, Senior Advisor at Intix provides invaluable guidance on how companies can stay ahead of the curve.

Institutional FX

Finalto launches Prime of Prime offering on LSEG’s FX Matching venue

“By combining our expertise in Prime of Prime services with LSEG’s robust trading platform, we aim to empower clients with the tools and resources needed to navigate the FX market with confidence.”

<