The international company Wirex obtained the E-money license №902025 from FCA, the financial market regulator of the UK. Only three companies from the blockchain and cryptocurrency sector have this license: Coinbase, Circle and Wirex.
CEO and co-founder of Wirex, Dmitry Lazarichev notes the importance of obtaining such a license for the company:
“The UK regulator is one of the most demanding in the world, and our licensing highlights Wirex’s compliance with EU regulatory standards in terms of transaction security, service quality and business ethics.”
The license also gives the crypto bank the opportunity to provide customers with services at a lower cost by eliminating intermediary companies.
In addition, obtaining a license provides an opportunity to obtain a direct membership in VISA in the future, which will also reduce transaction costs when working with card products.
Wirex intends to enter the markets of North America (USA, Canada), Singapore and Australia with solutions for the b2c and b2b segments by the end of 2018.