" class="no-js "lang="en-US"> Crypto asset management platform Haru Invest obtains VASP authorization for its EU Operation from Lithuania
Monday, June 05, 2023

Crypto asset management platform Haru Invest obtains VASP authorization for its EU Operation from Lithuania

Haru Invest, a leading digital asset management platform, today announced that Haru EU Limited UAB, its EU incorporated subsidiary, has become an authorized Virtual Asset Service Provider (VASP) for its EU operation based in Lithuania. As a VASP authorized business, Haru Invest can now provide crypto exchange and wallet/custody service, opening up a pathway to becoming a fully-fledged cryptocurrency exchange with a fiat gateway.

“Haru Invest has been growing stronger than ever, even during the volatile market situation, so we are very keen on crypto regulations,” said Hugo Lee, CEO of Haru Invest. “Obtaining a VASP registration is one of many milestones for our company, and it will help build trust in the crypto industry for our members by providing secure and compliant digital asset management services.”

This VASP authorization officially allows the company to support the Euro currency directly, enabling European Union countries to buy and trade between crypto and Euro seamlessly.

As a part of the VASP registration process, Haru Invest has undergone a thorough evaluation of its compliance and risk management procedures, as well as due diligence on its corporate governance and business operations.

Lithuania has emerged as a leader in the European crypto industry, known for its crypto-friendly regulatory environment, and is home to growing blockchain businesses. Evaluated as a fintech hub in EU with leading-edge finance infrastructure, Haru Invest aims to expand its business starting in Lithuania.

The centralized finance (CeFi) company’s strong in-house digital asset management team employs high-frequency algorithmic and trading strategies that take advantage of market inefficiencies and gaps to generate profits. Haru Invest has members across over 140 countries and has processed over $2.27 billion in total transaction volume with zero security breaches, late withdrawals or missed earnings payouts.

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