STRAX Price Rallies 10% As Stratis Secures VASP License In Spain

In a significant gust of developments within the cryptocurrency realm, the blockchain-developing platform Stratis recently secured a VASP license in Spain, advancing further with its cryptographic venture. This move by the blockchain developer underscored the firm’s efforts to comply with global regulatory norms, coming in tandem with the sudden rise in the requirement for seamless regulatory measures across the global crypto realm.

Meanwhile, the platform’s native token, STRAX, noted remarkable gains in the past 24 hours, aligning with the surfacing of the news about Stratis’ VASP license securing. This echoed a sense of frenzy among crypto market traders and investors globally, as STRAX nabbed significant attention with its rally amid today’s market turbulence, followed by another intriguing chronicle.

Bank Of Spain Grants Stratis VASP

In a post shared by the blockchain developer on X, Stratis scored a VASP license from the Bank of Spain today, March 28. Although additional details on the securing of the license weren’t disclosed, Stratis now joins the fray alongside leading exchanges such as Binance, Crypto.com, and Coinbase, entering into Spain’s VASP registry with the abovementioned chronicle.

Announcement:

Stratis has obtained a Virtual Asset Services Provider (VASP) registration from the Bank of Spain. Joining top companies like Binance, Crypto. com and Coinbase on Spain’s VASP registry.

More details to follow in the coming days. pic.twitter.com/IxKIQp1yKe

— Stratisplatform (@stratisplatform) March 28, 2024

Meanwhile, CoinGape Media earlier pointed out that STRAX, the developer’s native token, is one of the top altcoins that can potentially blast off in the Bitcoin halving epoch. In addition to the optimism curated by this, today’s surge further fuels bullishness on the token.

Binance Extends Support

On the other hand, in another remarkable chronicle surrounding STRAX, Binance, the world’s leading cryptocurrency exchange, completed the Stratis token swap and redenomination. Following this, deposits and withdrawals for the tokens are now live.

Spot trading for the pairs STRAX/BTC, STRAX/USDT, and STRAX/TRY commenced trading today at 08:00 UTC, showcasing Binance’s efforts to extend support for the token. This, coupled with the abovementioned development, collectively attributed to STRAX’s remarkable rally.

In the interim, Binance also revealed plans to add STRAX on Binance Loans starting tomorrow, March 29, at 08:00 UTC, further garnering market optimism on the token.

Also Read: Bitcoin Cash (BCH) Price Surges 17%, Open Interest Hits $500 Million Before Halving

Stratis Price Rallies

As of writing, the Stratis token’s price noted a substantial 10.32% surge in the past 24 hours and is currently trading at $0.1612. With a market cap surge of 10.56%, escorted by a 24-hour trading volume rise of a staggering 352.08%, the STRAX token curated a bullish ripple effect across the crypto industry.

The token’s recent securing of a VASP license from the Bank of Spain and Binance’s recommencing of operations orbiting STRAX primarily fueled today’s price rally. This phenomenon piqued the interest of crypto market enthusiasts across the globe.

Also Read: Judge Torres Ruling on XRP Secondary Market Sales Challenged by Ex-SEC Official

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