LCX, Liechtenstein Cryptoassets Exchange, receives Business License
von LCX Team · November 27, 2018
As of November 2018, LCX has been granted a Business License of the Liechtenstein Ministry of Economic Affairs to conduct its business in Liechtenstein (Gewerbebewilligung). LCX is permitted by the Liechtenstein Regulator to provide Exchange Trading services for utility and payment tokens (Wechselstube). In providing its services LCX is applying highest technology standards for KYC and AML to safeguard fulfilment of all regulatory requirements for AML and KYC.
In the preparation to apply for additional licenses LCX has increased its nominal capital from 100’000 CHF to 1’000’000 CHF. LCX intends to apply for the licenses of the Financial Market Authority (FMA) and other regulators Agencies to be able to trade security tokens and offer other regulated services.
The Business License is an important first step for LCX its plans to launch a fully regulated blockchain ecosystem focused on professional and institutional investors. LCX recently announced the closed-beta of its first product: the LCX Terminal. The LCX Terminal is a sophisticated trading desk for crypto assets: portfolio management, analytics platform, auto trading functionality and audit reporting — integration of major exchanges. Other products which LCX will provide are a crypto custody service called LCX Vault, an advanced trading platform for security tokens and other cryptoassets called LCX Exchange.