Tradu’s Stratos Tech withdraws Seychelles virtual-asset licence application

Stratos Tech Limited, trading as Tradu, voluntarily withdrew its Seychelles virtual-asset service provider licence application effective 5 October 2026, the Financial Services Authority said in a notice dated 23 October. The regulator also confirmed that the company had stopped servicing both retail and institutional clients.[1]

The published action is the withdrawal of an application for approval under the VASP Act 2024. The notice does not describe a revoked licence or announce an enforcement finding, and it gives no reason for the company’s decision.[1]

The application stage has its own regulatory meaning

Seychelles’ transition arrangements allowed businesses already providing virtual-asset services when the legislation began to continue after 31 December 2024 if the FSA had received a complete application by that deadline. New entrants were required to obtain approval before starting. An application under assessment and an issued licence therefore represented different regulatory stages.[2]

The FSA also says a Seychelles-incorporated company cannot avoid VASP licensing simply by providing services abroad without a local office. Where a destination country requires its own permission, the company must obtain that authorisation too. The Seychelles framework can consequently matter to an internationally distributed service even when its customers live elsewhere.[2]

Stratos Systems has a separate securities entry

The FSA’s capital-markets register, checked on 29 October, still lists Stratos Systems Limited and links that entry to Tradu’s international website. The entity name differs from Stratos Tech Limited, the company identified in the withdrawal notice.[3]

Tradu’s current international website describes Stratos Systems as a Seychelles securities dealer providing listed shares, with licence number SD147. It identifies the company as part of the group using the Tradu brand. That company disclosure and the regulator’s separate register entry do not establish that Stratos Tech’s virtual-asset business continues.[4]

For customers and distribution partners, the practical distinction is the contracting company and service on the account documents. A brand can span several regulated activities, so an entry for the securities business cannot answer a question about the withdrawn virtual-asset application. The account agreement is the starting point for deciding which entity a service or balance enquiry concerns.

The FSA notice does not provide customer numbers, outstanding balances or details of any asset-return process. It directs public enquiries to its Virtual Asset Service Section at [email protected].[1]

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