We are happy to share that the MFSA has officially issued a class 2 VFA licence to CSB Fintech's clients, Staern Limited. Such a licence allows them to provide reception and transmission of orders as well as the execution of orders on behalf of experienced investors and non-experienced investors.

CSB Fintech had reached an important milestone in October 2020 when Staern Limited received an  in-principle approval by the MFSA for a Class 2 Virtual Financial Asset Service Provider Licence, becoming one of only a few that received such an approval at that time.

Class 2 licence holders are authorised to provide any VFA service but are not able to operate a VFA exchange or deal for their own account but they may hold or control clients' assets or money in conjunction with the provision of a VFA Service.

CSB Fintech is authorised by the MFSA to act as a  fully registered VFA Agent in accordance with the Virtual Financial Assets Act. As a VFA Agent it is required to evaluate it's clients' business plans and fitness and properness prior to submitting an application to the MFSA. In addition, it is obliged to perform thorough due diligence on it's clients while supporting the MFSA with the necessary information during post-registration supervision.

CSB Fintech Ltd is part of CSB Group, a leading Corporate Services Provider, with Regulated Industry services being one of its specialisations. The Group is renowned for offering its clients a spectrum of specialised business and commercial services that guarantee a complete turnkey solution to clients wishing to set up or relocate their business to Malta.

It has been an honour for the Group's VFA team to be Staern Limited's advisors on this journey and we wish them nothing but the very best.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.