Pallet has obtained five major financial licenses in the world: US-MSB, Canada MSB, FAC, ASIC, and Estonian MTR, advancing the global legalization process

Pallet, initiated by the BELE Foundation, aims to become the safest and most efficient application wallet.

 

Pallet, initiated by the BELE Foundation, aims to become the safest and most efficient application wallet.At , We are committed to protecting our users’ assets, and we take this responsibility seriously. Our values guide us to make decisions that meet our community’s needs and have a lasting impact on society.At present, Pallet has successfully obtained five global financial licenses: US-MSB, Canada MSB, FAC, ASIC, and Estonian MTR, helping Pallet's global compliance strategic business to go further.

 

 

 

US-MSB

The license is a financial license approved and issued by Fincen (Financial Crimes Enforcement Agency, an agency under the U.S. Department of the Treasury), which allows to conduct digital currency transaction business under security compliance. The MSB license has huge influence on a global scale, and the top exchanges Coinbase, OKEX, Huobi, and Binance have all been registered. In March 2018, the U.S. Department of the Treasury and the Securities Regulatory Commission clearly stipulated that MSB, as a virtual currency exchange and its manager, must register an MSB license with FinCEN to engage in digital asset-related businesses in the United States.

 Canada MSB

The Canadian MSB (Money Services Business) license refers to a special license issued by the Canadian government that allows the licensee to engage in money service business. Companies holding this license can legally provide money transfer, remittance, remittance and other services, and provide customers with legal and safe fund transfer services.

CA

FCA is famous for its strict regulatory conditions, and its regulatory license is also the dream of many foreign exchange brokers. The UK FCA allows financial companies to provide services within the scope of FCA regulation in the UK. If a financial services company is located in a country outside the EEA, it can still operate in the UK, but it needs to be authorized by the FCA and the regulatory status must be "Authorised".

ASIC

The Australian ASIC license is the world's main regulatory license and is the statutory regulator of Australia's financial services and markets. The Australian Securities and Investments Commission was established in 2001 under the Australian Securities and Investments Commission Act. The agency independently exercises regulatory functions on companies, investment behaviors, financial products and services in accordance with the law. Because it belongs to the D-level foreign exchange license, there are great requirements for the strength of the platform if you want to apply.

Estonia MTR

All companies meeting the registration and operating criteria in Estonia must be registered with the MTR. Foreigners in Estonia must also be registered and officially registered with the MTR. EU regulations are very strict and when it comes to the foreign exchange market, foreign exchange brokers must meet very high standards in order to be able to operate.

 

Pallet has the following advantages after obtaining the five major financial licenses in the world:

Investors' recognition: Pallet's legal and financial industry supervision is very complete, and having an authoritative license will make Pallet more recognized by global investors.

Obtaining authoritative approval: Through the application of these legal licenses, Pallet can legally carry out related businesses around the world, which represents the government's compliance supervision of digital currency platforms.

Platform strength endorsement: The five major licenses obtained this time are standard licenses for global digital currency trading institutions. Coinbase, Bitfinex, Poloniex, Huobi and other platforms all hold this license to operate. Approval requires a certain threshold. Therefore, these licenses also represent the affirmation of Pallet's strength, and companies holding this license are more competitive in the market.

Diversified encrypted derivatives services: These licenses allow currency exchange and sending services, enabling Pallet to better meet customer needs and provide more diversified services.

Legitimacy: Companies with authoritative licenses have been reviewed and approved by governments of various countries, and are legal and credible, and customers are more confident in using their services.

 

The five major financial licenses obtained this time can be widely recognized internationally, which is more beneficial for Pallet to enter the international market.

 

Pallet is the first decentralized wallet to obtain the world's five major financial licenses, and at the same time meet the supervision of multiple places. As an authoritative regulatory agency for the behavior of digital encrypted asset exchanges, the audit teams of various countries have made a comprehensive understanding of Pallet's business model, organizational structure, product categories, financial forecasts and security before deciding to approve and issue it. It not only embodies Pallet's open Web3.0 financial atmosphere, but also provides new gospel for global encryption industry participants.

As a decentralized transaction wallet, Pallet technically guarantees the authenticity of transactions and the security of user assets. Since assets are stored on the chain and transactions are processed by smart contracts, every transaction and access can be queried and tracked. This open, transparent and non-tamperable feature effectively avoids black-box operations, false transactions, data rollback, etc. problems, giving users a strong sense of trust.

With the growth of the market value of the cryptocurrency industry and the rise of DeFi finance, the regulatory policies of many countries will become clearer from 2021. Judging from the current global securities and financial industries, countries all over the world are adopting a strict regulatory attitude to protect the legitimate rights and interests of investors and maintain social and economic order and public interests.

Therefore, the acquisition of the world's five major financial licenses means that Pallet will expand the DeFi financial business in the compliance supervision, and provide additional layers of policy protection for the joining and exiting of blockchain assets of global users on the platform, and user asset control will be freer and smoother! This is due to the fact that these financial licenses are obliged to supervise their registered member companies and professionals, and protect the vital interests of the market and investors.

 

In the future, Pallet will be more active in providing compliant digital asset financial services on a global scale, providing policy protection for platform users, and maximizing the experience of financial users.

 

 

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