Safello is taking first steps towards international growth and expansion with planned launch of crypto services in Finland before the New Year, driven by its new MICA license and demand for secure crypto solutions.
“This is a natural next step for Safello as we take our Nordic vision to the next level. Finland will serve as the springboard for a strategic European expansion and marks an important milestone for Safello and a key step in our mission to make crypto easy and secure for everyone. MiCA provides a clear and unified framework for the industry, enabling companies like Safello to grow responsibly across borders,” said Emelie Moritz, CEO of Safello.
The MICA regulations introduce a harmonized framework for crypto services in the European Union, which allows authorized providers to provide services in other member states through a simple notification procedure. Safello will launch all current services with full support for payments in euros, including instant deposits and withdrawals via local payment partners.
The services will launch first in the company's mobile app, followed by an online version. Finnish users will thus be able to buy, sell and store cryptocurrency securely through Safello's platform.
The company is now preparing the technical and operational solutions required for the launch, as well as regulatory preparations in the form of a cross-border activity notice to the Swedish Financial Supervisory Authority. This is a pre-startup requirement.
Safello's Board of Directors states that it will continuously consider new markets in Europe. The launch in Finland represents the first step in the company's broader expansion strategy in the region.
The financial impact of the Finnish launch is currently uncertain. Initially, a limited net cost is expected, but over time the launch is expected to contribute revenue depending on user growth and trade volume in Finland.
