GLEEC Secures Global Crypto Regulatory Approvals

GLEEC, an integrated cryptocurrency ecosystem that supports the popular blockchain game GLEEC Racing and an array of payments tools and trading services, has announced significant progress made within the regulatory landscape. 

The startup, which has been up and running for a year, announced it has obtained no less than nine regulatory licenses, in Canada, Dubai, El Salvador, Estonia, Poland, Lithuania, Slovakia and Ukraine. 

GLEEC said in a statement that the new licenses underscore its commitment to meet the highest standards of regulatory compliance within the territories it operates, and further its goal of achieving global financial compliance. 

The company has created a wide ecosystem of various blockchain-based protocols, including exchanges, wallets, and payment platforms. Its most popular offering is GLEEC Racing, which as the name suggests is a racing simulator that provides an exhilarating and highly realistic live racing experience for motor car fans, with weekly competitions such as its Grand Prix series enabling the very best global players to compete for prizes against one another. 

Other tools in GLEEC’s ecosystem include the GLEEC BTC Exchange, Gleec SV, a digital point of sale offering that’s exclusive to people in El Salvador, which works by converting BTC payments into US Dollars automatically via the Gleec BTC Exchange. It also offers GLEEC Pay, which supports business-to-consumer and business-to-business crypto-to-fiat payments, and GLEEC DEX, a decentralized crypto exchange. Everything within GLEEC’s ecosystem revolves around its native cryptocurrency, also called GLEEC. 

GLEEC said the new licenses will allow it to establish its blockchain, crypto and financial infrastructure across multiple countries. For example it will now be able to provide crypto services in Dubai, El Salvador, Poland, Lithuania and Slovakia, together with banking services in Canada and Ukraine. In Estonia and Lithuania, it’ll also be allowed to perform cross-border transactions. 

Daniel Dimitrov, CEO and founder of GLEEC, said the licenses will allow the company to offer a “growing local ecosystem”. 

“[GLEEC] is constantly trying to attain global regulatory approval,” he said, adding that it “aims to create a crypto ecosystem with a balanced regulatory framework.” 

GLEEC is making significant inroads within El Salvador’s growing ecosystem. El Salvador was notably the first country in the world to make Bitcoin legal tender, and the license it has been awarded will allow GLEEC to provide more utility for user’s crypto transactions. GLEEC can now provide BTC custodial services, wallets, process crypto payments into fiat, act as a digital asset exchange and provide other services, it said. 

Meanwhile, GLEEC’s Canadian Money Services Business license means it can now perform foreign exchange dealings, handle money orders, transfers and exchange virtual currencies. 

GLEEC is also fully focused on asset trading through crypto in Dubai, where it is now regulated to perform an array of crypto services.