WhiteBIT has secured VASP licenses in Croatia, Italy, and Kazakhstan, enabling expansion into key crypto markets. The move positions the exchange to serve a growing customer base in regions with rising crypto adoption.
WhiteBIT, a reputable cryptocurrency exchange, has effectively obtained Virtual Asset Service Provider (VASP) licenses in Kazakhstan, Italy, and Croatia.
The companies are able to expand their operations in significant markets as a result of this calculated approach, which generates approximately one trillion dollars in crypto transactions annually.
By obtaining these licenses, WhiteBIT is prepared to offer its services to a broader customer base, which includes institutional investors and retail merchants, in regions where cryptocurrency usage is steadily increasing.
The significance of these licenses is immeasurable. Croatia and Italy are part of Central, Northern, and Western Europe, a region with the second-largest crypto economy in the world, trailing only North America.
According to recent projections, this region constituted 21.7% of the global crypto market share between mid-2023 and mid-2024, thereby facilitating approximately $1 trillion in on-chain transactions.
At the same time, Kazakhstan is of significant importance to the crypto economy of Central and South Asia and Oceania, a region that accounts for 16.6% of the global market.
With these rights, WhiteBIT gains access to regions that are not only essential for the global expansion of digital assets but also serve as innovation centers.
WhiteBIT’s products are intended to be tailored to the specific needs of both businesses and individual consumers.
Significant of VASP Licenses in Three Major Regions
Institutional clients have the ability to utilize advanced trading options, over-the-counter transactions, and integration solutions, such as crypto-as-a-service. In contrast, retail consumers will benefit from the convenience of accessing spot trading instruments and asset management.\
The company’s global presence is expanding, with a user base of 5.5 million and activities in seven offices worldwide. WhiteBIT’s credibility as a trustworthy and transparent service provider is enhanced by its commitment to adhering to local regulations.
According to CEO Volodymyr Nosov, the acquisition of these rights represents a substantial achievement in WhiteBIT’s endeavor to democratize access to digital assets. He emphasized the necessity of these partnerships between authorities in order to maintain compliance while fostering creativity.
Conversely, Binance has also made substantial strides in the regulatory arena. Binance has successfully obtained VASP registration in Argentina, thereby substantially advancing National Securities Commission compliance, according to CNF.
