Instacoins Estonia OÜ, has successfully obtained its second crypto-license, allowing the company to provide e-wallet services for virtual currencies.

The company is fully regulated under Estonian law to provide services of exchanging virtual currency against fiat as well as provide a Bitcoin wallet service to all its clients.

“This is another important milestone in the development of our company’s vision. Estonia offers an interesting environment for the development of financial technology businesses and the possibility of operating a crypto-exchange with regulatory certainty and the authority to carry out its activity” says CEO Jean Paul Bonnici.

Last year, Estonia tightened its regulations on preventing money laundering and criminal activities in connection with crypto-currencies and licensing virtual currency service providers.

In order to be granted this license, the FIU scrutinises the company owners’ criminal history record, as well as the company’s due diligence and anti-money laundering procedural rules and internal auditing rules. 

Instacoins Estonia OÜ was incorporated in Estonia in October 2019 with registration number 14836937. Its second license (No.: FRK001359) was issued by the Government of Estonia on March 9th, 2020.

Instacoins Estonia OÜ is a sister company of Instacoins Ltd. which is incorporated in Malta and has been successfully servicing its clients for the past eighteen months.