Nabilah S
RexoSwap, a leading digital asset trading platform, has officially announced its support for Tonga’s Bitcoin payment pilot project, contributing to the establishment of a modern digital payment infrastructure in the country. As a compliant trading platform holding a U.S. Money Services Business (MSB) license, RexoSwap is committed to providing decentralized finance (DeFi) solutions tailored to the Tongan market while strictly adhering to global financial regulations to ensure all transactions remain legal and compliant.
Compliance First: RexoSwap Ensures Safe and Legal Transactions
RexoSwap places a strong emphasis on regulatory compliance, having secured a U.S. MSB license while actively pursuing financial regulatory approvals in multiple countries. In its involvement with Tonga’s Bitcoin payment pilot, the platform will rigorously follow international anti-money laundering (AML) and know your customer (KYC) regulations to safeguard user assets and mitigate the risks of illicit transactions.
RexoSwap’s Chief Compliance Officer (CCO), Rachel Edwards, emphasized, “We are dedicated to providing a legally compliant and secure digital asset trading environment for users worldwide. By adhering to local regulatory frameworks in all operational regions, RexoSwap will maintain compliance within the Tongan market and ensure all transactions align with international financial standards.”
Technical Support Provided by RexoSwap
As the core technology partner for Tonga’s Bitcoin payment pilot, RexoSwap will introduce three key solutions to enhance the stability, security, and regulatory compliance of the country’s digital payment system:
- Decentralized Wallet Service
- Enables users to store, manage, and trade Bitcoin without reliance on traditional banking institutions.
- Utilizes self-custody wallet technology, granting users complete control over their assets while ensuring compliance with international AML standards.
- Localized Payment Gateway
- Deploys a legally compliant payment system that allows users to securely conduct Bitcoin transactions with merchants and online services.
- Establishes stable fiat currency exchange channels for government agencies and businesses, integrating digital currency into daily economic activities such as salary payments, public service fees, and commercial transactions.
- Legal and Compliant Trading Environment
- Implements robust KYC and AML mechanisms to ensure transaction transparency and security within the Tongan market.
- Employs multi-factor authentication and on-chain monitoring technologies to prevent fraudulent activities and uphold the legal compliance of the trading platform.
Strengthening Regulatory Cooperation for Global Compliance
As a global exchange, RexoSwap remains committed to fostering collaboration with financial regulatory bodies worldwide. Upon entering the Tongan market, RexoSwap plans to establish a compliance framework in partnership with local financial regulators to ensure the Bitcoin payment pilot aligns with both domestic and international financial regulations.
RexoSwap’s Chief Financial Officer (CFO), Laura Bennett, reaffirmed, “Compliance is central to RexoSwap’s operations. We prioritize financial transparency and the protection of user funds, ensuring that all platform transactions remain legal and compliant. Moving forward, we will continue working closely with regulators worldwide to support the sustainable growth of the digital asset industry.”
Currently, RexoSwap has initiated a fiat channel audit to enhance transparency and ensure the traceability of funds involved in Bitcoin transactions, aligning with the regulatory requirements of multiple jurisdictions.
Expanding Compliance Efforts for a Global Digital Finance Ecosystem
Beyond supporting Bitcoin payments in Tonga, RexoSwap’s technological solutions serve as a scalable model for global Bitcoin payment systems. With its extensive compliance credentials, RexoSwap aims to expand into additional markets, fostering the mainstream adoption of Bitcoin payments while building a stable, secure, and legally compliant digital financial ecosystem for global users.
RexoSwap remains steadfast in its commitment to global compliance operations. This Bitcoin payment pilot not only strengthens the legal framework for digital asset transactions in Tonga but also reinforces RexoSwap’s position as a trusted and compliant global trading platform. In the future, RexoSwap will continue collaborating with financial institutions worldwide to drive the responsible evolution of the digital asset industry, ensuring digital finance benefits a broader audience.
Media Contact
Contact: Thomas M. Quinones
Company Name: RexoSwap Ltd
Email: [email protected]
Website: https://trade.rexoswapex.com
