SnapSwap International S.A. received authorization to operate as an electronic money institution. SnapSwap develops and manages Gloneta, a mobile messenger with instant cross-currency transactions via revolutionary Blockchain-technologies. EMI license allows SnapSwap to issue debit cards and other payment instruments linked to Gloneta accounts.
A unique regulatory approval opens huge opportunities: the electronic money institution authorization issued by the Ministry of Finance of Luxembourg signed by the Prime Minister Xavier Bettel allows SnapSwap to develop innovative services within the Gloneta mobile application, such as physical and virtual debit cards linked to Gloneta balances. The supervision of the CSSF provides additional assurance for SnapSwap customers and business partners.
Press release by SnapSwap