Stratis, a blockchain development platform, has recently obtained a Virtual Asset Service Provider (VASP) license in Spain, marking a crucial step in its commitment to adhere to global regulatory frameworks. The news positively impacted Stratis’s native cryptocurrency, STRAX, triggering a substantial increase in its market value and drawing attention from the global crypto community.
Stratis Marks Regulatory Compliance Milestone
The company announced via social media on March 28th that it secured a VASP license from the Bank of Spain, aligning itself with top cryptocurrency exchanges like Binance, Crypto.com, and Coinbase in the realm of regulatory adherence. This advancement underscores Stratis’s dedication to navigating the complex landscape of international financial regulations.
Market analysts had previously identified STRAX as having promising growth potential, particularly during the anticipated Bitcoin block reward halving period. Following the announcement of Stratis’s regulatory achievements, these expectations have amplified, further driving the asset’s price surge.
Recent trading data highlights a significant 10% climb in STRAX’s price within the past day, reaching $0.1612. The market has taken note of this momentum, as evidenced by a 10.56% appreciation in market capitalization and a staggering 352.08% leap in trading volume, signaling a surge in investor interest.
Binance Boosts STRAX Trading Prospects
Further bolstering STRAX’s prospects, Binance, the world’s leading cryptocurrency exchange, has concluded the token swap process for Stratis, resuming deposit and withdrawal functions. Binance now offers STRAX trading pairs and has also incorporated STRAX into its Binance Loans portfolio, beginning March 29th, validating the market’s positive outlook on the altcoin’s trajectory.