“YIELD Operators” refers to YieldApp OÜ and YIELD App Limited that operate the YIELD App website and platform.
YieldApp OÜ is licensed as a “Provider of Virtual Currency”, License No. FVT000427, issued by the Estonian Financial Intelligence Unit (FIU).
The Virtual Currency License has two sub-categories of permitted regulated activities as set out below:
- Provision of service for the exchanging of virtual currency against a fiat currency, including exchange of fiat to crypto, crypto to fiat and crypto to crypto.
- Provision of a virtual currency wallet service where private keys are generated for customers, and customers’ encrypted keys are kept under custody by the licensee for the purpose of keeping, storing and transferring virtual currencies.
Regulations enabling the use of and exchange of Digital Assets in various jurisdictions, particularly with respect to decentralized finance and crypto wealth management, are currently undeveloped or underdeveloped and are evolving rapidly.
YIELD App is working to a licensing roadmap and is currently engaged with several regulators in multiple tier 1 & tier 2 jurisdictions, including license applications currently submitted and under review to continue adding relevant protections to our users across the different business activities, products and services that we provide.
YIELD App employs rigorous business processes, compliance audits and oversight of all functions and people within the organization and its affiliates to meet prudential regulation obligations including investor protection, financial stability, market efficiency, competition, the prevention of financial crime and fairness.