News

Crypto startup Crypterium get FCA approval

United Kingdom’s Financial Conduct Authority (FCA) has granted registration to the crypto services provider Crypterium to provide crypto services to local citizens & companies. Moreover, Crypterium has become one of the few companies that’ve passed the registration process.

According to data on the official website of FCA, the authority has granted Crypterium to operate “certain crypto asset activities”. This complies with the Anti-Money Laundering regulations.

Also, the registration officially authorized Crypterium to continue providing its crypto wallet services, including crypto trading and payment services. The registration is essential amid the upcoming Brexit measures, allowing Crypterium to offer the same level of functionality to U.K. businesses as in other supported.

According to the announcement, Crypterium’s crypto wallet is available in 170+ countries. Overall, the service has handled over 400,000 clients since its launch.

Talking about this, Crypterium CEO Steven Parker said:

“Becoming an FCA-registered firm is a fantastic opportunity. From now on, interested parties will view Crypterium in a new light, putting user security and accessibility first. Not only do we provide an excellent set of services, but now we can show that these are done. This is in full compliance with some of the toughest assessment criteria.”

The firm also notes that the FCA registration is extensive. Moreover, it almost took “18 months of policies and processes agreement before granting approval.”

Besides Crypterium, UK’s authority has granted Gemini, CoinJar, Ziglu, Archax, and Digivault for operations in the country. This happened due to FCA warning against 111 unregistered crypto companies earlier this year. Interestingly, 51 companies withdrew their licensing applications due to FCA’s strict rules.

Related Stories:

Leave a Comment

Your email address will not be published. Required fields are marked *

Close Bitnami banner
Bitnami