Stratis, a leading blockchain platform, has recently received approval from the Banco de España to offer crypto-to-fiat exchange and custodial services in the Spanish market. This registration marks a significant milestone for Stratis, as it demonstrates their commitment to compliance with financial regulations, including the Anti Money Laundering Directive.
With this approval, Stratis is now poised to offer crypto payment acceptance services across Spain, with a particular focus on supporting the tourism and entertainment sectors. By enabling crypto-native customers to make purchases at Spanish nightclubs and leisure venues, Stratis aims to make these establishments even more appealing to a growing segment of the population.
In addition to offering exchange and custodial services, Stratis is also exploring the potential for issuing a regulated Euro stablecoin. This stablecoin would be fully fiat-backed, providing a more stable and acceptable form of digital currency for regulators. This development could have far-reaching implications for fintech across the region, enabling faster, more automated, and cost-effective settlement processes.
Chris Trew, Co-Founder and CEO of Stratis, expressed excitement about the possibilities that this registration opens up for the company. He highlighted the potential for Stratis to enable crypto-natives to make purchases using any digital asset at a variety of merchants throughout Spain. Additionally, he emphasized the transformative impact that a regulated Euro stablecoin could have on the fintech industry in the region.
This news comes on the heels of Stratis’ recent launch of its Ethereum-compatible mainnet, designed to support DeFi and gaming use cases. The platform incorporates zkSync, a layer-2 scaling solution that will enhance transaction throughput and reduce costs. Stratis is also making progress in its engagement with the UK’s Financial Conduct Authority for the issuance of a regulated GBP token.
Overall, Stratis’ approval for crypto-to-fiat exchange and custodial services in Spain represents a significant step forward for the company and the broader blockchain industry. With plans to explore regulated stablecoin issuance and continued innovation in blockchain technology, Stratis is well-positioned to drive further adoption of digital assets in the European market.
