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May 15, 2021

Cryptocurrency financial services company, FalconX, granted VFA license

FalconX, a cryptocurrency financial services company that provides institutions trading, credit, and clearing backed by Tiger Global and B Capital Group, among others, has been granted a Class...

FalconX, a cryptocurrency financial services company that provides institutions trading, credit, and clearing backed by Tiger Global and B Capital Group, among others, has been granted a Class 3 Virtual Financial Assets Act, 2018 ("VFAA") licence by the Malta Financial Services Authority ("MFSA").

This license enables FalconX to operate a regulated Virtual Financial Assets ("VFA") prime brokerage to institutional investors including: Custodian and Nominee Services; Execution of Client Orders on behalf of other persons; Dealing on Own Account and Placing of VFAs. FalconX was incorporated in October 2018 in Malta, to take advantage of the digital assets framework that was introduced by the MFSA, one of the first regulators in the world to introduce a comprehensive regulatory regime back in 2019. The company has been operating in Malta under the provisions of the VFA Act.

This news aligns with rapid growth for FalconX, including 46x net revenue growth in the past year. The company also recently announced 12x growth in trading volumes in the past year as well as volumes increasing to over $3 billion in Q4 2020.  

“Having operated under the transitory provisions of the Virtual Financial Assets Act in Malta, FalconX is excited to be one of the first companies granted a license by the MFSA. FalconX is committed to operating in a fully compliant and regulated manner, and we are excited to continue working with the innovative and forward thinking regulators in Malta,” said FalconX VP of Operations, Bob Rutherford.

About FalconX

FalconX is a cryptocurrency financial services company facilitating trading, credit, and clearing for institutions. The company is backed by Accel, Accomplice VC, B Capital Group, American Express Ventures, Coinbase Ventures, Fenbushi Capital, Flybridge Capital Partners, Lightspeed Venture Partners, Tiger Global Management and Avon Ventures, a venture capital fund affiliated with FMR LLC, the parent company of Fidelity Investments. FalconX has offices in Silicon Valley, Bengaluru, and Malta. For more information visit falconx.io.

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Disclaimer

This material is for informational purposes only and is only intended for sophisticated or institutional investors. This material is not (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations, or (iii) an official statement of FalconX or any of its affiliates.
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Any information contained in this material is not and should not be regarded as investment advice, investment research,, or derivatives research for the purposes of the rules of the CFTC or any other relevant regulatory body. Prior to entering into any proposed transaction, recipients should determine, in consultation with their own investment, legal, tax, regulatory and accounting advisors, the economic risks and merits, as well as the legal, tax, regulatory and accounting characteristics and consequences of the transaction.
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Solios, Inc. is registered as a federal money services business with FinCEN. FalconX Bravo, Inc. is registered with the U.S. Commodities Futures Trading Commission (CFTC) as a swap dealer. FalconX Limited is a registered Class 3 VFA service provider under the Virtual Financial Assets Act of 2018 with the Malta Financial Services Authority. FalconX Limited, FalconX Bravo, Inc., nor Solios, Inc. are not registered with the Securities & Exchange Commission or the Financial Industry Regulatory Authority. FalconX Foxtrot Pte Ltd and FalconX Golf Pte. Ltd. are not regulated by the Monetary Authority of Singapore. FalconX Hong Kong Limited is not regulated by the Securities and Futures Commission, Hong Kong.
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“FalconX” is a marketing name for FalconX Limited and its affiliates. Availability of products and services is subject to jurisdictional limitations and capabilities of each FalconX entity. For the full disclaimer and additional details, please visit: https://www.falconx.io/disclaimers

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