As a bridge between exchanges and merchant networks, Lyzi does not handle custody for our users.
As it is regarding actual regulation, Lyzi does not need to handle crypto licenses to operate. However, we believe compliance will get stronger and stronger regarding mass market adoption and push all actual crypto operators to be fully compliant.
Recent moves from worldwide operators strongly comfort our compliance vision. Regarding Europe, a global approach is about to arrive with MICA (Market in crypto assets regulation) and we strongly believe PSAN (Prestataire de Service sur les Actifs Numériques), a French regulation launched in 2020 regarding crypto operators, will be pushed globally in Europe and will give a strategic advantage to those who already did it.
We believe user protection has to be strong and we believe AML regulation will drive a global structuration of the industry and a mainstream adoption.
That’s why we decided to partner with fully regulated exchanges only because compliance & regulation will be key in the near future.
PSP agent : Lyzi will be a payment service provider agent in 2023, allowing Lyzi to provide account and payment services to its clients on its own.
PSP agreement is a golden pass to access and connect to the payment network, acquiring bank and card services. With this agreement, Lyzi aims for instance to allow the creation of a bank account and debit card to its users.
MICA : We believe MICA (Market in crypto assets regulation) is a great opportunity for the whole crypto industry.
We strongly believe regulation for custody purposes will be key and Virtual Asset Service Provider will be the new EU standard for crypto companies.
EMI Licence : We are preparing an EMI licence (Electronic Money institution) to accelerate our development.