Crypto payments firm Moneybite has been licensed by the Malta Financial Services Authority (MFSA), becoming one of the first crypto payment processors to receive a permit from the regulator.
Moving forward, Moneybite will be able to provide payment services to igaming operators licensed by the Malta Gaming Authority (MGA).
Moneybite has received a VFA license that allows it to receive and process order, custodian and nominee services. Moneybite managing director Elton Dimech welcomed the news with no small degree of excitement.
“It is a huge moment for us to be awarded our MFSA license and become one of the first operational MFSA-approved companies to service merchants globally, including MGA licensed gambling operators”, he said.
Dimech went on to explain that crypto transactions should not be a cause of concern but pave the way for easier ways to do business. He added that Moneybite is operating in a bid to ensure that it serves as a bridge between the crypto and FIAT worlds.
Moneybite can invoice and issue payments to various suppliers and the company allows corporate clients to purchase and then sell cryptocurrencies.