IronFX, a leading retail FX and CFD broker licensed by the Financial Conduct Authority, has obtained full regulatory license approval for its own cryptocurrency exchange IronX, developed in partnership with EmurgoHK, creator of the Cardano Blockchain.
The Estonian Financial Intelligence Unit (FIU) awarded the cryptocurrency exchange with a license that allows IronX to operate as provider of a virtual currency against a fiat currency exchange service and a provider of a virtual currency wallet service.
IronX is one of the first in Europe to seek and receive this level of approval, which helps to set the industry standard. The company was granted the licenses a month earlier than expected and plans to announce the full launch by the end of September with a priority opening for VIP IRX token holders to its beta version and official launch to the public planned for December 2018.
In August 2017, IronFX raised $100 million investment from a Middle East family office through a fund based in Singapore. The company planned to use the funds to expand its markets of coverage and launch additional brands, as well as to acquire existing brands and books of business.