EA Capital Secures Regulatory License in South Africa, Bridging Traditional Finance and Blockchain
EA Capital, a financial services provider specializing in blockchain technology, has obtained a Category I license as a Crypto Asset Service Provider (CASP) from South Africa’s Financial Sector Conduct Authority (FSCA). This milestone reflects the country’s ongoing efforts to regulate the digital asset space and enhance its credibility.
Operating as a regulated Financial Services Provider since 2022, EA Capital has been an Accountable Institution under the Financial Intelligence Centre. The company is now positioned to integrate traditional banking practices with cutting-edge digital solutions.
In a LinkedIn post, Ryan Aufrichtig, Founder and CEO of EA Capital, highlighted the company’s unique approach, stating, “EA Capital combines an established traditional banking team with market-leading experience and an expert crypto/digital asset & blockchain technology team. Our CASP license underscores our culture, expertise, and governance within a highly regulated TradFi environment transitioning into the crypto/digital age.”
Earlier this year, South Africa announced plans to license around 60 crypto firms, with over 300 providers already seeking approvals. The FSCA set a November 30 deadline for registration, warning of enforcement actions against firms that fail to comply, including fines and potential business closure. This regulatory initiative marks a proactive step towards overseeing the rapidly evolving digital asset sector in the country.
