The Malta Financial Services Authority (MFSA), under the Malta Virtual Financials Assets Act (VFAA) has issued the first license regulating the Initial Virtual Financial Assets Offerings (IVFAO). Malta-based VAIOT successfully registered its whitepaper for its VAI token (VAI) with the Authority, working through an authorised VFA agent which acts a liaison between the licensee and the Authority.
The VAIOT platform combines both artificial intelligence (AI) and blockchain to digitize transactions and businesses through an AI assistant that may provide Intelligent Contracts through innovative use of AI and blockchain.
This is a crucial milestone in Malta’s efforts in the Digital sector, attracting projects in the Emerging Technologies and Virtual Financial Assets (VFA) sector, further complemented by certification frameworks in place for technologies such as Distributed Ledger Technologies and Artificial Intelligence.
Christopher Azzopardi
Director, IT Assurance
KPMG in Malta
