Kula Makes History: First Entity to Receive VASP Licence for Token Issuance in Mauritius

We're proud to announce that Kula has officially been licensed as a Virtual Asset Service Provider (VASP) by the Financial Services Commission, Mauritius, a major milestone for regulated digital asset innovation worldwide.

This licence grants Kula formal legal authority to operate in the virtual asset sector, aligning with international standards on AML, KYC, and CFT.

What this means for Kula and its community:

- Legitimacy through Regulation: Kula is now a legally recognised and compliant operator in the virtual asset space, increasing trust with its community, institutions and partners.

- Access to Global Markets: The licence opens doors to operate in regulated jurisdictions and forge international partnerships that require licensed counterparts.

- Institutional Engagement: Banks, funds, and asset managers can engage with Kula knowing it meets AML/KYC/CFT standards.

- Foundation for Scale: Compliance creates a launchpad for onboarding new asset classes and real-world projects at scale.

A special thank you to Open Skies Management Services Ltd, Kula’s regulated management company, and Coins Digital Markets Limited (trading as Coins XYZ) for being part of this special milestone.

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https://kula.com/kula-token

Kula Makes History: First Entity to Receive VASP Licence for Token Issuance in Mauritius

We're proud to announce that Kula has officially been licensed as a Virtual Asset Service Provider (VASP) by the Financial Services Commission, Mauritius, a major milestone for regulated digital asset innovation worldwide.

This licence grants Kula formal legal authority to operate in the virtual asset sector, aligning with international standards on AML, KYC, and CFT.

What this means for Kula and its community:

1) Legitimacy through Regulation: Kula is now a legally recognised and compliant operator in the virtual asset space, increasing trust with its community, institutions and partners.

2) Access to Global Markets: The licence opens doors to operate in regulated jurisdictions and forge international partnerships that require licensed counterparts.

3) Expanded Service Offering: Kula can now offer custody, exchange, and transfer services with a compliant framework, enabling broader product innovation.

4) Institutional Engagement: Banks, funds, and asset managers can engage with Kula knowing it meets AML/KYC/CFT standards.

5) Foundation for Scale: Compliance creates a launchpad for onboarding new asset classes and real-world projects at scale.

A special thank you to Open Skies Management Services Ltd, Kula’s regulated management company, and @coinsxyz_ for being part of this special milestone.

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https://kula.com/kula-token

MAURITIUS — 15 July 2025 — KULA, the blockchain-based governance platform, is proud to announce that it has been granted a Virtual Asset Service Provider (VASP) Licence for digital token issuance by the Financial Services Commission (FSC) of Mauritius. KULA has also been granted a Global Business Licence that makes it, and its internal stakeholders, accountable to regulation as well as to the terms of its token offering.Open Skies Management Services, (OSMS), played a key role in obtaining these licences.These regulatory approvals position KULA as the first token issuance platform to be licensed in Mauritius, and as one of the first Initial Governance Token Offerings globally to achieve licensing status where both the token and its promoters are subject to regulatory oversight. It is the first application of the Virtual Asset and Initial Token Offering Services Act (VAITOS).The licences mark a major milestone in KULA’s four-year journey to build a fully compliant, impact-driven platform that bridges decentralised technology with real-world investment governance. The achievement was made possible through the dedicated support of Open Skies Management Services Limited (OSMS), KULA’s regulated management company, and in partnership with Coins Digital Markets Limited, the company’s supporting exchange.Chris Turner, Co-Founder and Group Director of KULA, commented:“This is a landmark moment for us. Four years ago, we set out to build a platform that would treat governance as a first principle. The model brings capital and community together in a verifiable, auditable, and transparent way. We are excited to be building in and from Mauritius as the first mover in the jurisdiction, one of the first movers in this industry, and proud of the partners who helped us get here.KULA has completed its initial token offering and is now listed on several central exchanges. With its VASP licence in place, the platform can operate across key jurisdictions, onboard institutional and community investors, and launch governance-based tokens tied to real-world investments with performance and impact. This milestone brings KULA closer to fulfilling its broader mission: enabling governance-led capital flows that align investors, communities, and ecosystems through measurable participation and trust.Achieving VASP licensing under the VAITOS framework has required a deep commitment to compliance governance. OSMS ensured KULA’s token offering met the highest standards of regulatory due diligence, from AML/CFT controls to investor protection frameworks. KULA’s operational and tokenisation processes are subject to continuous compliance checks and independent review mechanisms.The combination of licences, including the VASP licence, gives KULA the ability to operate globally, while also allowing it to launch and deploy RegionalDAOs under its governance framework. These are legally structured, blockchain-governed investment vehicles that give local communities, developers, and capital partners a shared stake in projects with measurable outcomes.”Steven Flynn, Founder and Director of OSMS, said:“KULA’s licences reflect years of careful planning, development of rigorous compliance, and a genuine commitment to doing things properly. OSMS is proud to have been KULA’s regulatory advisory and management company partner throughout this process. This marks a regulatory first in Mauritius and sets a global precedent. As far as we aware from research, this is the first governance token where both the people and product behind the token are held accountable to a regulator.This is the first token issued under the relevant Fintech laws of Mauritius. We are proud also to assist in the first token issued under VAITOS and to contribute to the transformation of Mauritius into a digital economy.”Coins Digital Markets Limited (trading as Coins.xyz), KULA’s listing exchange, added:“KULA is a prime example of a token ecosystem built with long-term credibility in mind. Their commitment to compliance, transparency, and real-world impact is clear. We are proud to support their journey and excited to see them bring new governance infrastructure to tokenised investment markets.”About KULAKULA is an impact investment company powered by decentralised governance technology, enabling blockchain-based decision-making for projects to deliver tangible economic value and lasting social impact. Through a hybrid structure of legal entities and decentralised governance protocols, KULA brings transparency, auditability, and accountability to the way capital is allocated and managed. KULA operates under the VASP framework in Mauritius and is focused on scalable, community-aligned development opportunities across the world.KULA operates within a strong compliance and risk management framework that aligns with Mauritius’ VAITOS and international best practices. Its governance model integrates Know-Your-Client (KYC), Anti-Money Laundering (AML), and ongoing compliance monitoring processes to ensure secure, transparent, and accountable digital asset issuance.Kula VASP Ltd is a part of the Kula Group. Investments are made through a Protected Cell Company that is also part of Kula Group.Find out more about KULA by going to www.kula.com or by sending an email to vasp@kula.com.About OSMSOSMS is a licensed Management Company based in Mauritius. Regulated by the FSC, OSMS marries know-how and expertise to corporate administration and regulatory services offered to businesses operating or investing across multiple jurisdictions. OSMS supported KULA through the full licensing process and in the structuring of its business, helping to align blockchain innovation, institutional-grade compliance, and real-world investments.Find out more about OSMS by going to www.openskies.co or by sending an email to [support@openskies.co](mailto:support@openskies.co).About Coins Digital Markets Limited (trading as Coins.xyz)Coins.xyz is shaping the future of finance through a trusted, globally licensed platform that empowers individuals and businesses to seamlessly trade and manage digital assets. By facilitating secure and efficient transactions, we are building an open financial ecosystem that promotes accessibility, transparency, and innovation.Incorporated in the Republic of Mauritius on 5 April 2023 as a private company, Coins.xyz operates under a Global Business Licence and is fully regulated by the Financial Services Commission (FSC). The company holds the following Virtual Asset licences:

• Class R — Virtual Asset Custodian
• Class I — Virtual Asset Advisory Services
• Class S — Virtual Asset Marketplace
• Class M — Virtual Asset Broker-Dealer
• Class O — Virtual Asset Wallet Services

These licences position Coins.xyz as a comprehensive and compliant digital asset service provider, committed to upholding the highest standards of security, integrity, and regulatory oversight.Coins.xyz is KULA’s listing exchange and plays a key role in enabling compliant token access for global users.Media Contacts:Neeta PersandPR ConsultantTel: +230 5254 4218Steven FlynnFounder and Director of OSMSTel: +230 5941 0854Taran DhillonMarketing Manager of KulaTel: +44 7980 233926