In a Nov. 8 post on X, Open Exchange (OPNX) announced its latest regulatory milestone in Europe.
The exchange is said to currently hold a Virtual Asset Service Provider (VASP) license in the Baltic country of Lithuania.
adhere to high standards
The announcement stated that the license will require OPNX to adhere to the highest security and compliance standards, and claimed that the team is already using strong KYC and anti-money laundering systems.
With the VASP license, OPNX has the ability to serve the European region, although certain jurisdictions within the EU may require additional licenses to operate certain services.
Previous exchange behavior
Perhaps better known than OPNX are its founders Kyle Davies and Su Zhu, who also founded now-bankrupt cryptocurrency hedge fund Three Arrows Capital (3AC), and Mark Lamb and Sudhu Arumugam, who founded CoinFLEX, cease operations End of October.Unfortunately, OPNX’s reputation has been taken into consideration due to previous bankruptcies most people doubt.