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Crypto Industry

UTIX launches their IVFAO in Malta with the support of Grant Thornton

Jessica Borg

UTIX Malta Limited has successfully registered its whitepaper with the Malta Financial Services Authority (MFSA).

The UTIX Platform is a SaaS product that offers e-ticketing solutions to event organisers and consumers. Built on Ethereum, the UTIX Platform utilises smart contracts to monitor and control the movement of tickets through the e-ticketing eco-system. The product generates revenue by applying a small fee to each ticket sold, paid for by the consumer, so it is free for event organisers to use.

The UTIX solution enables users and event organisers to seamlessly use smart contracts on the Ethereum network to control each of the variables that would otherwise lead to market inefficiency. UTIX’s protocol is intended to eliminate any possibility of counterfeit tickets being sold, ensure that secondary pricing can be controlled and allow the event organiser to enjoy all the benefits of using a blockchain system, without the complexities involved.


“UTIX had the foresight to predict a market shift to a mature, regulated cryptocurrency environment and the rare determination to build their part of it.”


Grant Thornton supported UTIX Malta Ltd with numerous regulatory support services leading to the carrying out of an ICO (Initial Coin Offering) governed by Malta's regulated framework. As part of Grant Thornton’s service offering to the financial services industry, we offer a holistic service supporting with the authorisation process, ensuring regulatory and AML/CFT compliance, including regulatory support, governance consultancy, and advice to optimise operations, as well as corporate set-up, tax and VAT advice.

Aside from the UTIX project, Grant Thornton has extensive experience in such other fields as the licensing of VASPs (virtual assets service providers) or any project falling within the scope of MiCA (markets in crypto assets). We can also support FinTech providers like payment institutions, e-money issuers (EMIs), or prospective ones; investment-based crowdfunding projects; iGaming projects; anyone interested in establishing an MTF (multi-lateral trading facility); CISs (Collective Investment Schemes) /Funds; all players within the banking industry; insurance companies or intermediaries, and other financial services players through a full range of services.


If you are planning to launch your ICO Project in Malta or wish to obtain a licence to operate within the crypto industry and need someone to assist with all the regulatory aspects, our experts can guide you from the first steps until you get your licence from the Regulatory Authority.