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A CSB Fintech Ltd client received the MFSA’s In-Principal ApprovalMEDIA ROOM
October 30, 2020
In October 2019, CSB Fintech reached an important milestone by receiving an in-principal approval by the MFSA to act as a Virtual Financial Assets Agent.
In October 2020, CSB Fintech has reached another important milestone as one of their clients, Staern Limited, has received an in-principal approval by the MFSA for a Class 2 Virtual Financial Asset Service Provider License, becoming one of only a few that received such an approval.
The Virtual Financial Assets Act, defines a VFA service, as any services falling within the Second Schedule to the Virtual Financial Assets when provided in relation to a DLT Asset which has been determined to be a virtual financial asset.
What is a class 2 VFA service provider license?
Class 2 Licensees are allowed to provide any VFA service but not to run a VFA exchange or deal on their own account. Class 2 Licensing Holders may keep or manage the assets or money of clients in accordance with the provision of the VFA Service.
CSB Fintech Ltd is part of CSB Group, a leading Corporate Services Provider, with Regulated Industry services being one of its specialisations. The Group is renowned for offering its clients a spectrum of specialised business and commercial services that guarantee a complete turnkey solution to clients wishing to set up or relocate their business to Malta.
For any assistance required please contact our qualified Fintech team on [email protected].