The Ukraine-based QMALL crypto exchange obtained a crypto license from the European Union (EU) and payment gateway. The cryptocurrency license is providing QMALL with access to European clients and businesses.
QMAll was founded in 2021 by Mykola Udianskyi and Bohdan Prylepa. It is the first crypto exchange to be fully regulated by the Ukrainian Government, which has contributed to the recent EU crypto license it has received.
In order to receive the EU license, QMALL registered in Lithuania under 'UAB QMALL'. As soon as it had a presence in an EU country, the crypto exchange registered as a 'Virtual Currency Exchange Operator' and a 'Depository Virtual Currency Wallet Operator'.
The registrations were by the 'Financial Crime Investigation Service' under 'The Ministry of the Interior of The Republic of Lithuania'.
The platform is likely to add EUR crypto pairs as a result of the European license, which may boost the trading volumes in the crypto trading platform.
The Ukrainian exchange has its own token, 'QMALL', which may gain some attraction due to the news.
QMALL Launchpad and Metaverse
The cryptocurrency exchange partnered with Sophia Antipolis, dubbed as 'French Silicon Valley'. Over 2,000 companies are present in Sophia Antiolis, such as IBM and Samsung.
It may allow the exchange to set new partnerships, especially after obtaining its regulatory license from the EU.
QMALL are in the process of expanding its launchpad, a platform that is used to launch new crypto projects. When investing in crypto projects at their early stages, the return on investment (ROI) may be higher.
The current plans are weekly or bi-weekly launches. Startups can launch their projects at QMALL to attract investors to finance their companies.
By the end of 2022, QMALL is planning to launch its own metaverse with a crypto exchange available in the metaverse. It is expected to contain supermarkets and entertainment venues.
Mykola Udianskyi, a Co-Founder of the QMALL, said: "Our Metaverse will be a breakthrough in the field of crypto exchanges. Its main tasks are to attract even more new customers and to create super-attractive prices for QMALL tokens.
"The Metaverse is a kind of virtual reality that has a daily life of its own. While wandering around the city, owners of QMALL tokens will be able to pay with cryptocurrency in virtual bars, shops, cinemas, theaters or take part in auctions, and so on.
"This should encourage us to improve coins so that the demand for them and their investment attractiveness grow."
