Oobit Registers Legal Entity in Italy

Singapore, Singapore--(Newsfile Corp. - September 5, 2022) - Oobit Technologies Pte. Ltd or "the Company", a cryptocurrency payments gateway solution powered by blockchain, has registered as a legal entity in Italy.

The official registration as a digital asset service provider will allow Oobit to offer cryptocurrency products and services to its growing customer base in Italy in compliance with local laws and regulations. The registration will also allow the Company to expand its team and office in Italy in order to meet rising demands for crypto payment gateways and associated services.

This achievement follows on the heels of Oobit's recent acquisition of regulatory approval with the Financial Crime Investigation Service (FCIS) in Lithuania. In addition to facilitating Oobit's business operations within the European Union, FCIS registration signifies that the Company is compliant with all relevant AML/KYC standards and EU corporate accounting requirements.

The move comes shortly after a July 2022 announcement by the Italian government of $46m in subsidies that will be granted to blockchain projects registered domestically as the country strives to become a hub for DeFi innovation. Other leading crypto service providers have sought similar legal registration in Italy in recent months as EU regulators warm up to the prospects offered by the broader blockchain industry.

Oobit's legal registration in Lithuania and now Italy points to the ongoing roll-out of its ambitious global expansion strategy. Alongside additional premises located globally, the Company is targeting promising regional markets with high rates of crypto adoption as payment gateways continue to attract new users worldwide.

Oobit Technologies Pte, 50 Raffles Place #37–00 Singapore Land Tower, Singapore (048623). is a company registered in Singapore (no:201716443G), that has been approved as Appointed Representative of Oobit Technologies OÜ, Harju maakond, Tallinn, Lasnamäe linnaosa, Väike-Paala tn 2, 11415, (no: 14852617 ). Which is authorized and regulated by the FIU (no: FVR001421 and FRK001304).