LCX gains license approvals from the Financial Market Authority of Liechtenstein

By Megha Bhattacharya

The Liechtenstein Cryptoassets Exchange, LCX recently announced that it has gained approvals of eight license categories under the Token and Trusted Technology Service Provider Act (TVTG). This makes LCX one of the first cryptocurrency platform to achieve the regulatory milestone in Liechtenstein.

“We have a long-standing commitment to building a fully regulated safe and reliable business while delivering a seamless user experience. Being one of the first cryptocurrency platforms to receive the Liechtenstein blockchain licenses is an important milestone. We look forward to rolling out additional compliant and innovative products and services in 2021,” says Monty C. M. Metzger, CEO and Founder at LCX.

According to the platform, LCX AG as received the regulatory approvals to operate services including TT Exchange Service Provider, TT Token Depositary, TT Key Depositary, TT Price Service Provider, TT Identity Service Providers, Token Generator, Token Issuer on its own and
Token Issuer on behalf of the clients. LCX aims to offer a full range of services in accordance with the scope and the definitions of the Lichtenstein Blockchain Laws.

The Liechtenstein blockchain laws use the term Trusted Technology (TT) as a hypernym of distributed ledger technology (DLT), blockchain technology, cryptocurrency or digital assets.

FinTech LCX focuses on tokenization of assets, security token offerings and advanced trading tools. Its STO Launchpad is a one-stop tokenization platform automating the fundraising and investor management on the blockchain.