Admirals secures crypto asset service provider registration from CySEC for digital asset trading and ICOs

Admirals has obtained a crypto asset service provider’s registration from the Cyprus Securities and Exchange Commission, through its group entity, Admirals Digital Limited, the global fintech group announced.

With an experience of over two decades in the financial markets, Admirals is now ready to increase its product offering in a further step towards supporting financial inclusion for everyone, the company added.

Admirals plans to leverage the CySEC registation for crypto service providers in order to allow clients to buy and sell cryptocurrencies and participate in ICOs hosted on its platform, among other things.

“The crypto community will be provided with a one-stop-shop for all things crypto”

Sergei Bogatenkov, CEO and chairman Management Board of Admirals, commented: “Our commitment is clear, and our compass has always been set to pursuit progress and innovation. We wish for our clients to achieve financial freedom by offering solutions to achieve it. By increasing our product range, we have proven that evolution, progress and client-centricity is at the heart of what we do.”

Andreas Ioannou, Admirals COO and Admirals Digital Limited Executive Director, said: “Admirals Digital Limited is one of the very few companies that have been registered as crypto asset service providers with the Cyprus Securities and Exchange Commission. We are certain that through this registration, the crypto community will be provided with a one-stop-shop for all things crypto. Through our state-of-the-art crypto trading platform, our clients will be able, amongst other, to buy and sell cryptocurrencies, participate in initial coin offerings that will be hosted exclusively on our platform, while also having a seamless view of their virtual wallets and crypto-trading actions”.

Admirals Group AS offers clients the ability to trade Forex, and CFDs on, inter alia, indices, metals, energies, stocks, bonds, and digital currencies, but also to invest in Stocks and ETFs (product offering may vary depending on each investment service provider and the client’s country of residence).

Admirals surrenders Estonia license as part of restructuring plan

The company, which is licensed in the Seychelles, UK, Cyprus, South Africa, Australia, Jordan, Canada, and Kenya, has recently surrendered its Estonia license as part of its restructuring plan.

FX brokerage firm Admirals (formerly Admiral Markets) has announced its intention to merge with its Estonian subsidiary, Admirals Markets AS. The anticipated completion of the merger is set for the first half of 2024.

Admirals Group AS boasts a physical presence in 18 countries through its subsidiaries, which serve clients in over 145 countries.

Despite the ongoing restructuring, Estonia remains a crucial strategic location for Admirals Group. The company reaffirms its commitment to the country by maintaining its headquarters in Tallinn, where it currently employs over 100 professionals. Additionally, Admirals Group’s lending platform, MoneyZen, will remain regulated by the Estonian financial authority.