Karma Has Got Two EU Licenses For The Crypto-Fiat Exchange And Crypto Wallet

Hello, dear friends!

Hot news: our core European legal entity, Karma Development OÜ, has got two licenses from the Ministry of Economic Affairs and Communications of Republic of Estonia.

Which licenses have been granted?

First one is "Providing services of exchanging a virtual currency against a fiat currency". It allows Karma to legally exchange BTC, ETH or whatever crypto currency to USD, EUR and other fiat monies.

Second one is "Providing a virtual currency wallet service". It allows Karma to legally accept deposits in crypto from the community members.

What does it mean to the Karma community?

Those licenses allow every Karma user to invest into the high-yield loans using crypto currencies. The process will be the following:

1. User deposit BTC or ETH to the Karma wallet, like on every crypto exchange.
2. User can exchange crypto to USD or EUR inside the Karma wallet at any moment.
3. User invest fiat money from the Karma wallet to the specified loan or the loan portfolio.

Karma team is now planning the development of this algorithm.

More information available at the official ministry's online registry: https://mtr.mkm.ee/juriidiline_isik/244761

Cheers
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