Reason for this visit

Cryptocurrency activities are welcome in Estonia. Thanks to Estonian government's open regulation of cryptocurrencies in a positive manner, an increasing number of crypto exchanges are planning to join this market. To help investors or practitioners have a better understanding of these exchanges in Estonia, WikiBit survey team is going to the country for on-site visits to the local companies.

On-site visit

The survey team visited cryptocurrency exchange Finrax (licensee: FINRAX Exchange OÜ) in Tallinn, capital of Estonia according to its regulatory address that Tallinn, Harjumaa, Estonia, Keemia 4, 10616.

The investigators arrived at Keemia 4, Tallinn, where a six-story building was situated near streets with little traffic. People werent allowed to go to the working area without a staff card because of the stringent security reasons. There was company directory in the building, from which no related information about Finrax was displayed.

Through an on-site investigation, it is confirmed that the company doesnt have a physical presence at the location.

Conclusion

The survey team went to Tallinn, Estonia to visit cryptocurrency exchange Finrax as planned, but didnt find the company at its regulatory address. It suggests that the company just registered at the place without a physical business office. Therefore, investors are advised to choose the exchange cautiously.

Disclaimer

The content is for informational purpose only, and shall not be taken as a final order for making a choice.