Gate.io Group Announces Completion of VASP Registration in Lithuania

Digital asset services provider, Gate.io Group recently confirmed that Gate Global UAB, the company’s Lithuania-based entity, has completed its Virtual Asset Service Provider (VASP) registration in Lithuania. The registration has allowed the company to offer crypto-related services in or from Lithuania in compliance with regional laws and regulations.

With its registration in Lithuania, one of the emerging digital asset markets in Europe, the company is planning to enhance its international reach. According to the details shared by the company, it is building a local team to offer customized products in the region.

Gate.io Group’s Founder and CEO, Dr Lin Han said: "Within every country we operate in, we seek to meet and exceed regulatory safeguards. Providing users with a reliable and safe experience and working with governments to meet their expectations will always be our primary goals when entering new regions. Lithuania has been extremely proactive in creating a healthy environment for digital asset companies. Their compliance and controls align with our commitments to reliable, safe and compliant operations."

Expansion

Gate.io has expanded its operations significantly in the past few years. Last month, the company entered the growing market of Hong Kong through compliant custody services. Established in 2013, Gate.io announced the introduction of an institutional services arm earlier this year.

“The new registration announcement comes during accelerated global expansion from Gate.io Group. Seeking to reach more users worldwide, the exchange is aggressively pursuing licenses and registrations in multiple regions with healthy crypto regulatory outlooks,” Gate.io added in the press release.

In the past few months, several leading crypto firms announced the acquisition of licenses around the world to drive their international expansion strategy. In July 2022, Binance secured the Virtual Asset Service Provider registration in Spain. In May, the crypto firm obtained approval from regulatory authorities in Italy.