CEO of Decrypt: How Fastex Crypto Exchange is Adopting Unconventional Strategies

Crypto exchange Fastex has adopted a strategy that melds innovation and compliance, as shared by CEO Vakhtang Abrahamyan in an interview with Rug Radio at the Token2049 conference in Singapore.

During the conversation with Rug Radio influencer Pukerainbow, Abrahamyan highlighted Fastex’s focus on meeting customer needs. He emphasized the importance of listening to customers and implementing their requests to enhance the exchange’s services. Abrahamyan also stressed the significance of embracing non-standard approaches in a highly competitive market.

Fastex is committed to investing in the personalization of its services to stay ahead in the industry. The exchange operates in various verticals such as its blockchain, native coin Fasttoken (FTN), Fastex Wallet, and regulated activities like a virtual asset service provider (VASP) and the ftNFT marketplace.

In addition to its existing ventures, Fastex has expanded into the metaverse, e-commerce, and various tokenization and DeFi projects. The exchange’s foundation also runs a grant program to support blockchain development initiatives.

Fastex Card

Fastex recently introduced its Web3 debit card in collaboration with Alchemy Pay, enabling users to spend cryptocurrency for daily transactions. Abrahamyan highlighted the growing demand for linking digital assets with traditional finance and emphasized the convenience the card offers for users.

While users currently need to manually top up the Fastex card, there are plans to further enhance the functionality by allowing direct linking to their accounts. This move aligns with Fastex’s customer-centric approach to providing innovative solutions.

Proactive Compliance

As the Markets in Crypto Assets (MiCA) law comes into effect in Europe next year, Fastex is proactively preparing for compliance. Abrahamyan emphasized the importance of staying compliant and improving regulatory standards as the industry evolves.

Cooperation with traditional financial institutions is a key aspect of Fastex’s compliance strategy. Abrahamyan highlighted the exchange’s commitment to fostering strong relationships with regulators and enhancing governance structures to adapt to changing regulatory environments.

Fastex has received initial approval from the UAE regulator VARA, with a full operational license expected by year-end. Abrahamyan emphasized the need for structural changes to align with new regulations and underscored the exchange’s expansion into emerging markets like LATAM.