At Scallop, we take our regulatory and compliance obligations seriously. We are committed to upholding the highest standards of regulatory compliance and governance to ensure the safety and security of our users' funds and information.
We are proud to be compliant with a range of licenses and regulations across various regions. In the UK and EU regions, we are fully compliant with the Payment Services Directive (PSD), which ensures that we meet the necessary regulatory standards for payment services.
In Canada, we have been granted a Money Services Business (MSB) license by the Financial Transactions and Reports Analysis Centre (FINTRAC), which enables us to provide our services to Canadian users in full compliance with local regulations.
In Dubai, we have been granted provisional regulatory approval by the Virtual Assets Regulatory Authority (VARA), demonstrating our commitment to complying with local regulations and laws in the region.
In addition, we hold Electronic Money Institution (EMI) licenses in both the United Kingdom and Ireland, as well as a crypto license in Estonia for the European market. These licenses allow us to provide our users with a range of innovative and secure financial services that comply with local regulations and laws.