Zonda Gets First Canadian Cryptocurrency Exchange License
Zonda (formerly BitBay) is a major European digital currency exchange with more than a million users and a global presence. Canadian authorities have granted a licence to a business based in Europe for the first time. It is only natural that the company will expand to other continents as part of its worldwide expansion strategy.
Canadians will soon be able to trade over 60 cryptocurrencies and tokens in pairs with fiat currencies (EUR, USD, GBP, and PLN), stablecoins (USDT and USDC), as well as BTC and ETH, in a secure environment.
The licence, issued by the Financial Transactions and Reports Analysis Center of Canada (FINTRAC), allows Zonda to operate as a Money Services Business in Canada. As a result, Zonda is obligated to comply with particular responsibilities in money laundering and counter-terrorist funding in Canada.
Canada has long been a leader in legislation that adapts to a dynamic environment. This is the first government to take a proactive approach to cryptocurrency regulation, establishing legislation on digital currencies in 2014. Since then, it has maintained an open attitude toward the bitcoin business while ensuring investor safety.
As part of our global expansion goals, which we are systematically implementing, applying for a Canadian licence was a natural move for us. Ultimately, we aim to be present worldwide under applicable legal rules.Kamil Sikorski, Zonda’s Chief
He emphasizes that what is happening now is the next step in the expansion of the company.
The execution of our mission is intertwined with each of our next steps outside of Europe. With our fully regulated exchange, we aim to be a pioneer in the cryptocurrency business, making the usage of digital technologies more accessible to everyone.
Furthermore, Sikorski added that The new generation of bitcoin users is mainly concerned with whether or not the services they use are fully compliant – and we want to make it possible for them to do so. As a result, we are collaborating with authorities worldwide to make our actions even more transparent, and we are working together to alter the world of finance.