Lao central bank issues licenses for cryptocurrency exchange platforms

AgenciesUpdated: Wednesday, January 19, 2022, 04:18 PM IST
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Lao central bank has issued licenses to Lao Digital Assets Exchange and Bitqik to trade in cryptocurrencies. |

Lao central bank, the bank of Lao PDR, has issued licenses to two companies to trade in cryptocurrencies.

The two companies are the Lao Digital Assets Exchange (LDX), a joint venture between the AIF Group and the Phongsupthavy Group, and Bitqik, a subsidiary of the Simuong Group.

LDX and Bitqik are the only licensed and regulated institutions in Laos that can offer full brokerage and trading services in cryptocurrencies and other digital assets, the reports said.

The two trading platforms are expected to provide full services in April, in full compliance with the regulations in terms of cybersecurity and client protection.

(With inputs from IANS)

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