Blockchain development platform Stratis has achieved a significant milestone by obtaining a Virtual Asset Service Provider (VASP) license in Spain. This achievement highlights Stratis's commitment to meeting global regulatory standards. The platform's native asset STRAX saw a positive response following the VASP license announcement, garnering increased value and attracting attention from the global crypto community.

According to information shared on social media platform X by Stratis, the platform officially entered Spain's VASP registry on March 28th after receiving a VASP license from the Bank of Spain. While specific details about the license acquisition remain undisclosed, Stratis now stands among prominent cryptocurrency exchanges in terms of regulatory compliance.

Experts had previously noted the growth potential of STRAX, especially during Bitcoin's block reward halving period. Today's surge in STRAX price, driven by news of Stratis's regulatory success, has further raised expectations for the altcoin.

Current data indicates that the price of STRAX has increased by over 10% in the last 24 hours, reaching $0.1612. With a 10.56% rise in market value and a 352.08% surge in trading volume over the past day, it's evident that interest in the altcoin is on the rise.

Another crucial development for STRAX was the successful completion of the token swap and revaluation process by Binance, the world's largest cryptocurrency exchange. As a result, deposit and withdrawal services for STRAX have resumed, and trading pairs like STRAX/BTC, STRAX/USDT, and STRAX/TRY are now available for trading.

Binance's decision to enhance support for the STRAX token underscores the exchange's commitment to facilitating the trading and accessibility of various cryptocurrencies. Additionally, the news that STRAX will be added to Binance Loans from March 29th further boosts market optimism surrounding the altcoin's potential.