Stratis, a leading blockchain platform, has recently received approval for crypto-to-fiat exchange and custodial services in the Spanish market. This approval comes after a thorough review of Stratis’ compliance policies for financial regulations, including the Anti Money Laundering Directive.
With this registration, Stratis is now able to offer crypto payment acceptance services across Spain, with a focus on supporting the tourism and entertainment sectors. This move is expected to make Spanish nightclubs and leisure venues more appealing to crypto-native customers.
In addition to offering crypto services, Stratis is also exploring the potential for a regulated Euro stablecoin in collaboration with Spain’s financial intelligence unit. This stablecoin would be fully fiat-backed, making it more acceptable to regulators and enabling faster, more automated, and cost-effective settlement.
Chris Trew, the Co-Founder and CEO of Stratis, expressed excitement about the possibilities this registration opens up for the company. He mentioned that Stratis is now in a strong position to enable crypto-natives to make purchases using any digital asset at various merchants across the country.
Furthermore, Stratis recently launched its Ethereum-compatible mainnet, designed to support DeFi and gaming use cases. The mainnet incorporates zkSync, a layer-2 scaling solution that will increase transaction throughput and reduce costs. Stratis is also making progress in engaging with the UK’s Financial Conduct Authority for the issuance of a regulated GBP token.
Overall, Stratis’ expansion into the Spanish market and its exploration of stablecoin issuance demonstrate the company’s commitment to innovation and growth in the blockchain industry.
