Hong Kong, Aug. 27, 2024 (GLOBE NEWSWIRE) -- RedotPay, a rapidly growing crypto payment company, is thrilled to announce its successful application for a full Virtual Asset Service Provider (VASP) registration from the Financial Crime Investigation Service (FCIS) of Lithuania, under the Group entity of RedotX, UAB. The VASP registration marks a significant milestone for RedotPay as it formally enters the European market, solidifying its position as a trusted global player in the rapidly evolving digital payment landscape and expanding its suite of products and services offerings.
The VASP registration allows RedotX, UAB to provide the services of both (i) virtual currency exchange, and (ii) depository virtual currency wallet. The registration has significantly expanded RedotPay’s offerings and demonstrates its commitment to adhering to the highest standards of regulatory compliance. This achievement highlights RedotPay's dedication to providing secure and transparent digital payment services to its global customer base.
RedotPay's successful application for the VASP registration also showcases its ability to meet the stringent requirements and guidelines set forth by the FCIS of Lithuania, ensuring the safety and integrity of its operations.
With the VASP registration in hand, RedotPay gains a competitive advantage in the digital payment sector by expanding its reach to support a broader range of virtual assets related services, including crypto exchange and wallet services, further strengthening its position as a preferred payment solution provider for businesses and individuals alike.
"We are delighted to have obtained the VASP registration from the Financial Crime Investigation Service of Lithuania," said Michael GAO, CEO & Co-founder of RedotPay. "This achievement underscores our unwavering commitment to regulatory compliance and reinforces our dedication to providing secure and reliable digital payment solutions to our valued customers. With the VASP registration, we are well-positioned to drive innovation and contribute to the ongoing transformation of the global financial landscape."
RedotPay remains committed to staying at the forefront of technological advancements and industry best practices. The company will continue to prioritise customer satisfaction, security, and compliance as it leverages the VASP registration to expand its range of services and explore new opportunities in the dynamic digital payment ecosystem.
About Redotpay
RedotPay is a fast-growing crypto payment company based in Hong Kong. Our mission is to enable crypto users to use crypto currencies in daily transactions like fiat currencies, reduce overall transaction costs through blockchain technology, and help unbanked gain access to financial services and promote greater financial inclusion and economic prosperity.
Disclaimer: This publication is for informational purpose only and is not intended to constitute legal, financial, investment or any other form of professional advice. RedotPay assumes no responsibility or liability for any errors or omissions in this publication. The information contained in this publication is provided on an “as is” basis and RedotPay makes no representation or warranty, whether expressed or implied, in relation to it and its use. The information is provided with no guarantees of completeness, accuracy, usefulness or timeliness. Readers should seek professional advice before taking any action in relation to the matters dealt with in this publication.
