Stratis secures approval as a Virtual Asset Service Provider (VASP) from Spain's central bank, Banco de España, following a rigorous assessment of its compliance measures, particularly in anti-money laundering regulations. With this accreditation, Stratis gains authorization to offer crypto-to-fiat exchange and crypto custody solutions to users within Spain.

The company aims to introduce crypto payment adoption solutions across Spanish markets, positioning itself to support Spain's tourism and entertainment industry through crypto adoption initiatives, thereby enhancing the appeal of the country's nightlife scene.

In the VASP listing process, Stratis collaborated with SEPBLAC, the financial intelligence and supervisory authority in Spain, to strengthen anti-money laundering measures. This collaboration enables Stratis to leverage its technology in facilitating the issuance of a certified one-to-one fiat-backed Euro stablecoin. This stablecoin introduces faster, more automated, and cost-effective settlement options, aligning with regulatory preferences.

According to Chris Trew, Stratis' co-founder and CEO, the VASP listing enhances their ability to enable traditional crypto investors to purchase and utilize digital assets from businesses across Spain. This listing also positions Stratis to explore the launch of a certified Euro stablecoin, offering flexibility for fintech applications.

Recently, Stratis introduced its Ethereum-compatible mainnet, designed to support decentralized finance (DeFi) and gaming applications. This blockchain integration incorporates zkSync, a Layer 2 scaling solution, to enhance transaction throughput and reduce costs, alongside interoperability features with multiple chains.

Additionally, Stratis is progressing towards releasing a certified GBP token in collaboration with the UK's Financial Conduct Authority (FCA).