Chain Acquires European Cryptocurrency Service Provider with Compliance License and Launches Chain Prime

02/17/2023 15:49 • NFT Newsflash • 146 views

On February 17, Chain, the blockchain infrastructure service provider, announced that it had acquired a European cryptocurrency service provider with a compliance license, which will now operate as a new entity Chain Europe UAB. After the acquisition, Chain also launched the OTC trading system Chain Prime, aiming to enable customers to obtain deep liquidity through Chain Engine.

Chain, an infrastructure service provider, acquired European licensed entities and launched the OTC trading system Chain Prime

Interpret the above information:

Chain, the blockchain infrastructure service provider, has acquired a European cryptocurrency service provider with a compliance license, and has launched a new OTC trading system, Chain Prime. Chain Europe UAB, the newly acquired entity, is expected to improve the company’s European presence while also addressing compliance concerns. With the acquisition, Chain will also gain access to the compliance licenses held by the service provider.

OTC (Over-the-counter) trading systems allow the direct transfer of cryptocurrencies between two parties outside of an exchange platform. Chain Prime aims to address the problem of liquidity and enable customers to obtain deep liquidity through Chain Engine, its blockchain technology. The OTC trading system was launched in conjunction with the acquisition to further strengthen the market position of the company. Chain has been able to expand its business operations by bringing on board a European entity with a compliance license, which is a significant advantage for businesses whether traditional or cryptocurrencies.

Chain Prime is built on top of Chain Engine, a scalable blockchain infrastructure that provides secure and instant transactions. This will make trade execution and settlement more efficient and faster for customers. By introducing an OTC trading system, Chain Prime will also allow for larger trades and better prices for customers than traditional exchanges. The new system will enable buyers to purchase cryptocurrencies directly from sellers without the need for an intermediary. This streamlining of the buying process will make it easier for customers to trade cryptocurrencies, and provide greater ease of access for novice traders.

In summary, Chain’s acquisition of a European cryptocurrency service provider with a compliance license and the launch of the OTC trading system, Chain Prime, allows the company to address compliance concerns, improve market liquidity through Chain Engine and also expand its existing business footprint into Europe. The launch of this new system is expected to increase trade volumes, allow for better prices and provide a secure platform for traders of cryptocurrencies. Through this acquisition and new launch, Chain aims to remain at the forefront of the rapidly evolving blockchain industry.

In conclusion, with compliance concerns surrounding the cryptocurrency ecosystem, the acquisition of the European cryptocurrency service provider with a compliance license will position Chain ahead of its competitors while the OTC trading platform will address the cryptocurrency liquidity problems providing traders with better pricing and trading flexibility. This move by Chain is laudable and will be a fundamental milestone in ensuring customer satisfaction and increasing trading volumes for the company.

Overall, the acquisition and launch of the Chain Prime OTC trading system is a significant move by Chain and demonstrates its commitment to improving customers’ trading experiences on its blockchain platform.

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