Based in Estonia, Kriptomat became one of the first cryptocurrency platforms in the world to receive ISO certification.
The International Organization for Standardization (ISO) has certified FintechX OÜ’s technologies and its Kriptomat cryptocurrency platform, Dejan Davidović, one of the leaders of Kriptomat, said:
“Standards establish uniform rules for how work should be organized. Therefore, external auditors checked every year that we really do our work in accordance with ISO standards. This helps the crypto industry as a whole as we lead by example and show that crypto companies can follow the standards as well. The ISO certification has helped us create a stable environment for all interested users of the Kriptomat system. We are the first in the world to do this.”
In 2021, the company expanded its international team, held an investment round and ended the financial year with a profit of over €7 million. Kriptomat has a team of over 60 people, including specialists from Estonia, Slovenia, Germany, Hungary, Serbia, Spain and the UK.
In March, amendments to the law on strengthening measures to prevent money laundering and terrorist financing came into force in Estonia. The update made the Estonian regulatory regime for digital asset platforms stricter than the general EU rules. For example, entities offering digital wallet and online exchange services will need to meet a minimum capital requirement of €100,000, while those planning to provide storage services will need to have a share capital of at least €250,000.
Source: Bits
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