Lykke Exchange Got Licensed to Provide Financial Services in Asia and Africaby Fintechnews Singapore November 17, 2016
Swiss-headquartered fintech firm Lykke announced the establishment of Lykke Vanuatu (lykke.vu), a new licensed entity.
The Vanuatu Financial Services Commission (VFSC) has approved Lykke Vanuatu as a Dealer in Securities. Lykke Vanuatu will provide access to Lykke Exchange for residents in Asian and African countries in compliance with local regulations. Internet users in these countries can download the free Lykke Wallet application to participate.
Lykke founder and CEO Richard Olsen notes that Vanuatu is the first license of the group. “We welcome our new friends from Asia and Africa and encourage them to visit Lykke Exchange,” he said. “Lykke’s mission has always been to build a global marketplace. We want to level the playing field, so that everyone has access to trading.” The Vanuatu license enables Lykke to offer a comprehensive service package tailored to the needs of the region. Services include zero-commission online trading and seamless integrations.
Lykke Corp is applying for licenses in Cyprus, the United Kingdom, Switzerland, Japan, and the United States to provide broker services all around the globe.
Lykke is building a global, all-access marketplace using distributed ledger technology. The company was founded in Zurich by Richard Olsen, one of the chief innovators of the global foreign exchange OANDA, and received initial seed funding in 2015.
Lykke Exchange aims to provide a platform for trading all financial assets, starting with FOREX and CFDs.