Azerbaijani CBA Wraps Up Novel Financial Product Testing In Special Regulatory Mode

2025-08-06 07:08:56

(MENAFN- Trend News Agency) BAKU, Azerbaijan, August 6. The trial run of the cutting-edge products handpicked during the initial phase of the special regulatory framework rolled out by the Central Bank of Azerbaijan (CBA) has wrapped up, Trend reports via the CBA.

Following evaluation of the four items that made it through the initial round of testing, the following conclusions were reached:

Pasha Pay LLC - Integration of the m10 application with the Binance platform

The project envisages the integration of the m10 application with the Binance platform to conduct cryptocurrency transactions more safely and transparently. Through this integration, users can deposit and withdraw funds from their Binance wallets. The product testing results were considered successful, and the product was given the green light for another six months.

Unicapital Investment Company OJSC - Cryptobroker platform

The Cryptobroker platform provides the opportunity to easily and safely buy, sell, and store virtual assets. The product testing results were considered successful and extended for an additional six months.

Mobile Payment Solutions LLC - PortCoin cryptocurrency

The PortCoin cryptocurrency was issued as part of the project and was offered to Portmanat users for investment purposes. Due to the failure to achieve the expected test results during the trial period, the project was suspended.

Svort LLC - Crypto trading platform

The project presented by Svort LLC provided for the purchase and sale of virtual assets (tokens) with fiat funds, the exchange of various tokens for each other, the opening of cryptocurrency wallets, and the safe storage of customers' virtual assets. Due to the failure to achieve the expected test results during the trial period, the project was suspended.

To note, the purpose of the special regulatory regime is to test innovative financial products in financial markets within a limited framework and under the supervision of the CBA and to form a regulatory and legal basis for the large-scale application of products that show successful results.

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