Safello, the leading cryptocurrency exchange in the Nordics, has recently announced its plans to launch its services in Finland. This decision was made by the company’s Board of Directors and is set to take place before the end of the year. This marks Safello’s first cross-border expansion, made possible by the company’s authorization as a crypto asset service provider.
The launch in Finland is made possible by the EU’s Markets in Crypto-Assets (MiCA) regulation, which introduces a harmonized framework for crypto asset services. This enables authorized providers to offer their services in other EU member states through a simple notification procedure. The Finnish launch will include all of the company’s current services and will feature full support for euro payments, including instant deposits and withdrawals through established local payment partners. Initially, these services will be available through Safello’s mobile app, with a web launch to follow. This will allow Finnish users to securely buy, sell, and store crypto assets through Safello’s platform.
In preparation for the launch, Safello is currently working on the technical and operational foundations, as well as regulatory preparations in the form of a cross-border activity notification to the Swedish Financial Supervisory Authority (Finansinspektionen). This is a prerequisite for the launch. The company’s Board of Directors will continue to assess new markets for potential entry, with the Finnish launch being the first step in Safello’s European expansion strategy.
At this time, the financial impact of the Finnish launch is difficult to estimate. Initially, there will be a limited net cost for Safello, but it is expected to generate revenue over time, depending on the number of new users and trading volume in Finland.
Emelie Moritz, CEO of Safello, expressed her excitement about this development, stating, “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, marking an important milestone for Safello and a key step in our mission to make crypto simple and secure for everyone. MiCA provides a clear and unified framework for the industry, enabling companies like Safello to grow responsibly across borders.”