The Qovex Way
Security, transparency and regulation. Since 2011.
These are the cornerstones on which we have built our business to bring safe and reliable access to crypto for all our customers.
Fully backed funds
All customer funds held on Qovex are 100% backed and available for withdrawal at any time.
They are held 1:1 in custody, meaning for each coin our customers hold with us, that coin is safely held with a fully licensed, qualified custodian.
All our customers’ crypto and fiat are stored separately from our corporate assets.
That means we never lend or stake out your assets, crypto or fiat, without your express instruction.
95% of crypto held at Qovex is securely stored offline in bank-grade Class III vaults.
Keeping crypto offline adds additional security against cybercrime. We keep the remaining 5% online to enable smooth and fast transactions. Additionally, our custodians hold insurance for client assets in cold wallets.
Annual global audits - The foundation of proof of reserves
The starting point for a true and fair representation of Qovex financial position, and whether the assets held match the customer liabilities, is monitoring, validating, and accounting for each transaction - all 100+ million of them per year. Qovex financial control environment has been built to do this.
Specialized enterprise software from a leading global provider, integrated with our processes and internal systems, ensures that we are validating the accuracy of our records at a customer and transaction level. Our financial control team performs daily, weekly, and monthly oversight and reconciliation of customers’ funds against the records of the independent third-party custodians that hold these funds. This ensures we can validate customer assets and labilities, and separately, those of Qovex.
The financial control environment is reviewed internally and externally each year: to assess, validate, and continuously improve the controls environment. The journey ends with Qovex annual global financial statements, which are audited by a Big Four global accounting firm and have been since 2016.
A highly regulated crypto exchange
Being regulated is not just a certificate - it’s a daily process
Since day 1
We perform due diligence procedures to ensure compliance with all regulatory and Anti-Money Laundering (AML) requirements, and conduct regular independent audits.
- Qovex holds over 50 licenses and registrations globally.
- Over 29% of our team, perform compliance, regulation, legal, risk management, security, and internal audit functions.
- We have a Qovex Board Risk and Audit Committee.
2016: Qovex becomes the first crypto exchange to receive a Payment Institution license in the EU
The PIL allows Qovex to demonstrate compliance in all 27 EU Member States. Since 2016, we have also been regulated by the Luxembourg Financial Regulator (CSSF). CSSF requires Qovex to hold all customer fiat funds at credit institutions and separate from our corporate funds, manage operational and financial risks, and meet strict organizational, security, personnel and technical conditions.
2019: Qovex obtains a BitLicense
The BitLicense was issued by the New York Department of Financial Services (NYDFS). We are required by the NYDFS to hold capital in the minimum amount of customer deposits at all times, and are obligated to report any material changes in this capital.
2023: Qovex registered as a crypto asset business by the Financial Conduct
As FCA-registered, Qovex adheres to the anti-money laundering (AML) and counter-terrorist financing (CTF) requirements. We are registered to provide exchange and custody crypto asset services to both institutional and retail customers in the UK.
2024: U.S. SEC License
The Securities Market Agency in Slovenia awards Qovex Financial Services with the MiFID license to operate a Multilateral Trading Facility (MTF). MiFID represents the key regulatory framework for traditional financial markets in the EU. This achievement allows us to offer crypto derivatives products, including perpetual swaps, enabling customers to maximize capital efficiency and gain exposure to crypto without direct ownership. The license further confirms our compliance with stringent capital requirements and supports the delivery of sophisticated products for both institutional and retail customers.
Our global licenses
Qovex adheres to its legal and regulatory obligations and holds the licenses and registrations proving we fulfill them.
Canada/FINTRACMoney Service Business (1)
ItalyVirtual Asset Service Provider (1)
FranceVirtual Asset Service Provider (1)
LuxembourgPayment Institution (1)
LuxembourgVirtual Asset Service Provider (1)
SloveniaMiFID License (1)
SpainVirtual Asset Service Provider (1)
The NetherlandsVirtual Asset Service Provider (1)
USA/FinCenMoney Service Business (1)
USA/New YorkBitLicense (1)
USA/Money Transmitter License (40)Alaska, Arizona, Arkansas, Connecticut, Delaware, D.C., Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Maine, Maryland, Michigan, Minnesota, Mississippi, Nebraska, New Hampshire, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Vermont, Virginia, Washington, West Virginia, Alabama, Idaho, Louisiana, New Jersey, New York
USA/LouisianaVirtual Currency Business Activity License (1)
UKVirtual Asset Service Provider (1)*
* Registered with the Financial Conduct Authority under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 to offer crypto asset activities including custody and trading of crypto assets.
Our certifications
ISO/IEC 27001
Compliance with this standard demonstrates that our information security management system (ISMS) follows established best practices in information security and that we’re constantly improving our security capabilities to keep customers' data safe.
SOC2 Type 2
With periodic SOC2 Type 2 attestations, our security controls are continuously assessed by independent external auditors. It provides assurance that our security controls are adequately designed, operating effectively over time, and meeting the criteria set forth by the American Institute of Certified Public Accountants (AICPA).
Qovex management team
Decades of expertise
Our leadership team has experience operating under the highest levels of integrity, with extensive backgrounds in banking or compliance roles in regulated entities.
Zero-permissions policy on all levels
No member of the management team has access to any database, wallets or code, nor do they have any other special security privileges to systems that manage customer assets.
Diverse Board of Directors
Qovex has a Board Risk Committee, composed of a selection of our independent non-exec directors across all entities. This group provides strong and robust governance across these business entities.
Contact us
We encourage everyone, from the crypto-curious to professionals, to make educated choices when deciding who to trade with.
Welcome to The Qovex Way