Thursday, June 20, 2024
spot_imgspot_img
HomeEconomyMoneybite secures licence with MFSA

Moneybite secures licence with MFSA

Moneybite, a specialist crypto payments company, today announced it has been granted a licence by the Malta Financial Services Authority (MFSA), becoming one of the first MFSA-approved companies to provide merchant services globally, particularly to Malta Gaming Authority (MGA)-licensed operators.

The licence granted is for a Virtual Financial Assets (VFA) Service Provider, authorised to provide reception and transmission of orders, custodian or nominee services, execution of orders on behalf of other persons and dealing on own account.

Acting as a bridge between crypto and traditional fiat currencies, Moneybite, a three-year-old business, is the first true compliant on and off ramp for companies looking to leverage crypto as both a payment and settlement tool.

The company’s highly experienced management team includes managing director Elton Dimech, who spent 10 years at Sparkasse Bank Malta plc in Malta and co-founder David Kicks, with 20 years’ experience in gambling and payments.

Dimech commented: “Our one stop solution has been designed for companies looking to leverage the power of crypto to upgrade their transactional capabilities. It is a huge moment for us to be awarded our MFSA licence and become one of the first operational MFSA-approved companies to service merchants globally, including MGA licensed gambling operators. We see this as a regulatory sunrise for the industry. Transacting with crypto should not generate concern but be as easy for businesses as dealing with traditional fiat currency. We are here to act as that trusted bridge between the two.

In addition to crypto payment processing, Moneybite’s technology is used to invoice clients and pay international suppliers. Buying and selling larger amounts of crypto is also available for corporate customers and high net worth clients via its boutique OTC (over the counter) service.

DISCLAIMER

This article provides general information only and does not replace professional advice in any way. It is recommended to consult a qualified professional before making any important decisions regarding financial, legal or other matters. The author and the publication are not responsible for any errors or damages caused by the use of the information contained in this article.

We are memberspot_img
spot_img

Related articles

Discover innovation at Digital Conference Malta 2024

Join industry leaders on June 25, 2024, at the Digital Conference Malta 2024 for discussions on digital economy, AI, fintech, and green technology, driving Malta's digital transformation.

Pre-B7 Summit Event – “AI: The Missing Piece of the Productivity Puzzle?”

Attend the pre-B7 Summit on the future of artificial intelligence, organized by the Canadian Chamber of Commerce in collaboration with the Canadian Chamber in Italy. Discuss the future of AI on May 15 in Rome.

Transport: Maltese operators challenge current European legislation

Malta calls on Europe to adapt European transport laws to the island’s unique needs for fairer and more inclusive rules.

Funding focus
Discover the news in the dedicated section