Reason for this visit

The cryptocurrency market in the United Kingdom develops rapidly, appealing to a large pool of investors and startups. And numerous cryptocurrency platforms and startups start to establish branches in the country, making a huge contribution to digital asset transaction and the development blockchain technology. What‘s more, an increasing number of traditional financial institutions commence focusing on crypto, while exploring the potential digital assets. The UK boasts one of the world’s most vibrant and most liquid cryptocurrency market with the majority of the British buying cryptocurrencies with online cryptocurrency exchanges. Despite the regulatory challenge, the UK has taken initiatives in the struggle to regulate the new financial products. Nowadays, the Financial Conduct Authority (FCA) in the UK requires the local cryptocurrency exchanges to register before delivering their services. This ensures that all the related companies operate businesses in accordance with the law and regulation on Anti-Money Laundering and Counter Terrorist Financing. Therefore, the investors feel more safe and confident in investment, while certain transactions and services are likely to be restricted in line with the regulation. Undoubtedly, the cryptocurrency market in the UK has the enormous potential. To help investors have a more comprehensive understanding of current exchanges in the UK, WikiBit survey team is determined to go to the country for on-site visits to local companies.

On-site visit

The survey team visited cryptocurrency exchange XTB in London according to its regulatory address that 1 Canada Square Level 9 Office 9.12 Canary Wharf London E14 5AA United Kingdom.

On December 16, 2023, the investigators came at 1 Canada Square in London for a visit to the exchanges office, and located a modern 50-storey building in Canary Wharf. It is one of most ironic structures in London, while being the third tallest building in the UK.

Upon access to the 9th floor of the building via the elevator for further investigation, the survey personnel discovered from the floor directory that there were many companies including company XTB on the floor, and then managed to know that this place was a co-working space where XTB was situated. At the same time, the reception area could be seen in the shared office with many people sitting there. Fortunately, it was forbidden to take photos inside the office.

Through the on-site investigation, it is confirmed that XTB has a physical presence at the location.

Conclusion

The survey personnel went to London in the UK to visit the cryptocurrency exchange XTB as planned, and found the companys name at its regulatory address. This denotes that the company has a physical business office at the place. Meanwhile, investors should make a judicious decision following much deliberation.

Disclaimer

The content is for informational purpose only, and shall not be taken as a final order for making a choice.