Hong Kong, Aug. 27, 2024 (GLOBE NEWSWIRE) — RedotPay, a fast-growing crypto payments company, is pleased to announce its successful application for full registration as a Virtual Asset Service Provider (VASP) with the Financial Crime Investigation Service (FCIS) of Lithuania under its corporate entity RedotX, UAB. The VASP registration represents an important milestone for RedotPay as the company officially enters the European market, cements its position as a trusted global player in the rapidly evolving digital payments landscape, and expands its product and service offering.

The VASP registration enables RedotX, UAB to offer both (i) virtual currency exchange services and (ii) virtual custodial wallets. The registration has significantly expanded RedotPay’s offering and demonstrates its commitment to maintaining the highest standards of regulatory compliance. This achievement underscores RedotPay’s commitment to providing secure and transparent digital payment services to its global customer base.

RedotPay’s successful application for VASP registration also demonstrates the company’s ability to meet the strict requirements and guidelines of the Lithuanian FCIS, ensuring the security and integrity of its business operations.

With the VASP registration, RedotPay gains a competitive advantage in the digital payments sector by expanding its reach to support a wider range of virtual asset-related services, including crypto exchange and wallet services, further strengthening its position as the preferred payment solutions provider for businesses and individuals.

“We are delighted to receive the VASP registration from the Lithuanian Financial Crimes Investigation Service,” said Michael GAO, CEO and co-founder of RedotPay. “This achievement underscores our unwavering commitment to regulatory compliance and reaffirms our dedication to providing secure and reliable digital payment solutions to our valued customers. With the VASP registration, we are well positioned to drive innovation and contribute to the ongoing transformation of the global financial landscape.”

RedotPay remains committed to staying at the forefront of technological advancements and industry best practices. The company will continue to prioritize customer satisfaction, security and compliance while leveraging VASP registration to expand its service offerings and explore new opportunities in the dynamic digital payments ecosystem.

About Redotpay
RedotPay is a fast-growing crypto payments company based in Hong Kong. Our mission is to enable crypto users to use cryptocurrencies in daily transactions like fiat currencies, reduce overall transaction costs through blockchain technology, enable the unbanked to access financial services, and promote greater financial inclusion and economic prosperity.

Disclaimer: This publication is for informational purposes only and does not constitute legal, financial, investment or other professional advice. RedotPay assumes no responsibility or liability for any errors or omissions in this publication. The information contained in this publication is provided “as is” and RedotPay makes no representation or warranty, express or implied, with respect to this information and its use. The information is provided without any guarantee of completeness, accuracy, usefulness or timeliness. Readers should seek professional advice before taking any action with respect to the matters discussed in this publication.