There are now four “crypto” authorized by Banco de Portugal
Utrust – registered under the corporate name Cifralfabeto Lda. The Bank of Portugal (BdP) fourth service company license for the provision of cryptocurrency services, having been approved this week with cryptocurrencies, was approved this week by the supervisor. And eight processes are currently underway, according to data provided by the BdP to Expresso.
Utrust, one of the pioneers in the crypto-assets ecosystem, is licensed to operate only in Portugal and is authorized by the central bank to provide a whole range of services with crypto-assets provided for by law: exchange services between assets and fiat currencies, exchange between crypto-assets , transfers between wallets and virtual devices.
According to the BdP, the supervisor “has eight processes underway to register entities that intend to carry out activities with assets”. The Bd three months, counted in working days, to determine a decision, from the required document receipt data or, in the case of documents being counted since publication more not, the most recent submission. The deadline cannot be six months from the first request.
Utrust is a Portuguese company, founded in 2017, in Braga, by Artur Goulão, Filipe Castro, Nuno Correia, Roberto Machado, and specializes in intercompany payment systems.from company to company) in crypto assets. The executive president is Sanka Kon, who has stepped down as director of markets from PayPal to lead the Portuguese company in 2020.
In January of this year, it was acquired by the Romanian company Elrond, creator of a platform blockchain to, with a focus on the so-called web3, “make payments fully digital native, using the blockchain to offer instant global level settlements and payments at minimal cost.”