WhiteBIT Gains VASP Licenses in Three Key Markets

• WhiteBIT secures VASP licenses in Croatia, Italy, and Kazakhstan, expanding into key crypto transaction hubs.
• These licenses highlight WhiteBIT’s compliance efforts and open doors to nearly $1 trillion in annual crypto transactions.

WhiteBIT, a renowned crypto exchange, has successfully obtained Virtual Asset Service Provider (VASP) licenses in Croatia, Italy, and Kazakhstan. This calculated approach sets the companies to grow their activities in important markets, driving about a trillion dollars in crypto transactions annually.

WhiteBIT is poised to provide its services to a larger customer base, including institutional investors and retail traders, in areas where crypto usage is progressively rising by acquiring these licenses.

WhiteBIT Takes the Next Big Step: Crypto Licenses in Croatia, Italy & Kazakhstan

The VASP licenses WhiteBIT just secured open up three high-potential markets, strengthening its footprint in regions moving billions in crypto annually.

Croatia and Italy sit in Europe’s… pic.twitter.com/uRZa26XnaA

— Crypto Town Hall (@Crypto_TownHall) December 21, 2024

WhiteBIT: Expanding Into Key Global Crypto Markets 

One cannot stress the value of these licenses. Trailing only North America, Croatia and Italy are part of Central, Northern, and Western Europe, a region with the second-largest crypto economy worldwide.

Recent estimates show that between mid-2023 and mid-2024, this area accounted for 21.7% of the entire worldwide crypto market share, therefore supporting around $1 trillion in on-chain transactions.

Concurrently, Kazakhstan is very important in the crypto economy of Central and South Asia and Oceania, a territory with 16.6% of the world market. With these rights, WhiteBIT gets access to areas that are not just hotspots for innovation but also vital for the worldwide expansion of digital assets.

WhiteBIT’s products are supposed to be customized for both companies and individual consumers. Advanced trading options, over-the-counter deals, and integration solutions, including crypto-as-a-service, can be used by institutional clients. Conversely, retail customers will gain from easy access to asset management and spot trading instruments.

With activities in seven worldwide offices and a user base of 5.5 million, the company’s global presence keeps growing. WhiteBIT’s dedication to following local rules strengthens its credibility as a trustworthy and open service provider.

Obtaining these rights marks a significant milestone in WhiteBIT’s mission to democratize access to digital assets, according to CEO Volodymyr Nosov. He underlined the need for these alliances between authorities in promoting creativity while preserving compliance.

On the other hand, Binance has also achieved rather significant advancement on the regulatory front. According to CNF, Binance has obtained VASP registration in Argentina, therefore significantly advancing National Securities Commission compliance.