Ibinex, a US-based provider of white-label solutions for cryptocurrency exchanges, has secured a licence to operate in Estonia.

The licence will enable the firm to offer various cryptocurrency exchange services such as fiat to crypto, crypto to fiat, as well as crypto to crypto transactions.

At the same time, the licence will also enable the firm to offer hot and cold custodial crypto wallet service.

Ibinex will offer unique security keys for its clients or will keep clients’ encrypted keys to store and transfer cryptocurrencies.

Ibinex CEO Simon Grunfeld said: “This is the first of many licenses and registrations to come; Ibinex is excited to be one of the first licensed exchanges to be in accordance with Estonian legislation.”

“We’re seeing more formations of regulatory rulings for cryptos in the EU region, and due to this progressive stance, companies like ours can find a compliant framework, from which to operate under,” Grunfeld added.