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Karma Has Got Two EU Licenses For The Crypto-Fiat Exchange And Crypto Wallet

The Karma’s core European legal entity, Karma Development OÜ, has got two licenses from the Ministry of Economic Affairs and Communications of Republic of Estonia: “Providing services of exchanging a virtual currency against a fiat currency” and “Providing a virtual currency wallet service”.

Those licenses allow every Karma user to invest into the high-yield loans using crypto currencies. The process will be the following:

1. User deposit BTC or ETH to the Karma wallet, like on every crypto exchange.
2. User can exchange crypto to USD or EUR inside the Karma wallet at any moment.
3. User invest fiat money from the Karma wallet to the specified loan or the loan portfolio.

Karma team is now planning the development of this algorithm.

More information available at the official ministry’s online registry.

Karma is an investment platform where private and professional investors can lend to businesses online while keeping a risk premium. In Russia, the company is regulated by 259-FZ.

Press office Schnellreich.ru

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