Delio, a South Korean crypto finance company specializing in decentralized finance, has acquired the Information Security Management System 'ISMS' Certification from the Korea Internet & Security Agency (KISA) and completed the Virtual Asset Service Provider (VASP) Registration.
Delio, which obtained the ISMS certification on the 17th, submitted the VASP application to the Financial Intelligence Unit (FIU) of South Korea. The registration was completed within the deadline (September 24). The ISMS certificate is valid for three years, after which it must be renewed.
Delio is one of just 42 companies that could receive the ISMS Certification and submit the application before the deadline and continue providing crypto-related services in Korea. Out of the 42 registered companies, 29 are coin exchanges while the remaining 13 are crypto-wallet or custodial businesses. After the registration deadline, VASP operators who continue conducting business without a license will be subject to criminal and fiscal penalties, including prison sentences or fines.
An official from Delio said, “We are willing to provide a better service to our customers by complying with the security requirements and AML rules set by the Korean government. We hope that the industry will benefit from the new licensing policies.”
Delio is a leading South Korean lending platform that has been recognized as the country’s top lending platform in a recent report issued by the Korean Internet and Security Agency, a Korean government agency specializing in blockchain. Delio offers a variety of lending and interest-saving products on its platform and has recently surpassed $1.5 billion of Bitcoin (BTC) in total value utilized for lending and interest accounts combined.