Brokerage group JustMarkets is in the process of acquiring a Virtual Asset Service Provider (VASP) license in the Seychelles.
The company is currently hiring for a local compliance officer to manage its VASP business in the country.
The Seychelles rolled out a VASP licensing regime in 2024. Under those rules, providers in the country could continue to operate until they were approved for a license.
Data on the Financial Services Authority’s (FSA) website seems to show that no companies have been approved yet, with all applications from existing providers still in the ‘assessment’ stage.
The regulator can approve firms to offer wallet services, operate an exchange, broker digital assets, and act as an investment provider.
Currently several big names in the brokerage space are in the assessment stage and are thus able to provide services from the country.
That includes eToro and FXCM-owned Tradu, as well as large crypto players, including Bybit, OKX, and BitMEX.
Some players may be using the license purely for payments and treasury management operations, as opposed to actually launching crypto trading services for retail customers.
