Wallex Trust & Custody, a fintech company based in the USA and Europe that offers trust and custody services among its clients across borders notably in Europe, Asia, and Africa, has announced it has received a banking Crypto and Insurance license issued by the Comoros International Banking Authority (CIBA). This official recognition as a bank charter allows Wallex to operate and offer asset and digital asset banking and insurance services in the Union of the Comoros in particular, and most notably on a global scale arena as well.

CIBA Authorizes Wallex Bank

To be officially called Wallex Bank, CIBA authorizes Wallex Bank to offer banking and insurance services to non-residents of the Union of the Comoros with diverse undertakings specified within the Regulation. It states the dispensation of company services, including issuing own deposit products, providing loans and borrowing of funds, carrying out currency and exchange transactions, and holding assets and other financial instruments for third parties.

Wallex Bank takes pride in its newly acquired expansive banking services dealing with depositary transactions, guarantee business, multicurrency account management, asset management, financial engineering, and even investment consultancy services.

Africa About to Steal the Limelight

The timing of the bank charter grant cannot come at a better time with the African continent about to steal the limelight in cryptocurrency adoption and auxiliary services that will be needed for processing and facilitation. What is exciting about Wallex Bank’s presence is the wide opening of doors for uninterrupted cryptocurrency trading. Eligible clients will find in Wallex Bank a reliable cryptocurrency exchange operator that secures the opening of crypto accounts, storage of cryptocurrencies, accepting crypto deposits issuance of security tokens and cryptocurrencies, as well as ensuring liquidity and insurance on all crypto deposit matters.

Of course, Wallex Bank has in its program of directions the methodical built-up of operations to guarantee an optimized user experience. While having the world in mind, Wallex is grounded in strengthening its foundations to service the people and provide the foundation for expansion and development.

As fragmented economic turmoils in the African continent continue to escalate regional inflation, thereby devaluating further sovereign currencies, populations are beginning to turn to cryptocurrencies as a way to halt the ill-effects of certain fiscal policies. With Wallex Bank Africa already in place and now the new introduction with CIBA’s decision to grant Wallex Bank a bank charter, is a turning point to the eventual progress via digitalization of the country’s and global industries, beginning with cryptocurrencies.

It is no surprise for Wallex to be taking a further step within the financial world and presenting a new giant within the new digital-age financial industry. It is Simone Mazzuca’s visionary leadership which will provide the impetus that will spur the country’s competitiveness on the African financial stage and provide revolutionary services on a global stage.

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