At the beginning of this month, Lykke Cyprus Limited received approval from the Cyprus Securities and Exchange Commission (CySEC) to operate as a regulated Cyprus Investment Firm (CIF; license number 363/18).
As a firm that is regulated in accordance with the standards and laws of the European Economic Area, Lykke Cyprus Limited will adhere to the strictest financial standards and implement a regulatory framework that will include the segregation and protection of client funds, capital adequacy controls, and full transparency of its business operations.
Commenting on the news, the Founder of Lykke Richard Olsen said: “The CySEC licence represents a significant milestone in Lykke’s history because it lays the foundation for us to commence regulated financial services while adhering to the highest standards set by the European Securities and Markets Authority.”
“Lykke’s operational capability has been substantially enhanced with CySEC’s approval. As a company, we are a step closer to commencing regulated activities including new trading features for clients, expected in the coming months,” said Demetrios Zamboglou, CEO of Lykke Cyprus Limited.
Lykke is a Zug-based financial technology firm that uses the latest technologies to build the future of financial markets – a global marketplace based on the principles of fairness, efficiency, and transparency. Lykke’s mission is to democratize finance by leveraging the power of exponential technologies, including the blockchain; eliminating market inefficiencies; promoting equal access to financial markets from anywhere in the world; and supporting the trade of any object of value.
Photo L-R: Richard Olsen, Founder of Lykke and Demetrios Zamboglou, CEO of Lykke Cyprus Limited.