Bitcoin Startup Circle Granted Electronic Money License in Britain, Partners Barclays
Circle, a Bitcoin exchange and services startup is granted an electronic money license by the British government through its foremost financial regulator. The milestone marks the first time that Britain has bestowed a license upon a bitcoin company. The license was granted by Britain’s primary financial regulator, the Financial Conduct Authority. The move further Britain’s public and determined stance to stand out as the go-to hub for financial technology. Circle facilitates currency transfers by converting them to bitcoin first, with all transactions verified and recorded on the bitcoin....
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Bitcoin wallet startup Circle has been granted an electronic money license from a top UK financial regulator. The approval from the UK Financial Conduct Authority – the first of its kind for a digital currency startup – allows Circle to establish a business relationship with London-based bank Barclays. As a result, Circle is now able to store pound sterling on behalf of its customer base – similar to how it holds dollars for its customers in the US. Further, UK customers can now send money to and from their bank accounts. "We support the exploration of positive uses of blockchain....
Is regulation and big banks participation the pill that the doctor ordered for Bitcoin companies to flourish? UK e-money licence. Barclays and Circle through their path-breaking partnership have demonstrated that banks do not need to fear dealing with Bitcoin companies. One can expect many more cryptocurrency-based companies to enter the financial mainstream in the coming months. Circle, the social payment network backed by Goldman Sachs, has launched its services in the UK. It has received an e-money licence and has partnered with Barclays in this initiative. On 5 April, Circle was....
“Bitcoin Bank” Circle announced that people in the U.K. can now experience social payments over the open Internet in their native currency, pound sterling (GBP), using Circle’s updated apps for Android, iOS and the Web. The company was granted an e-money license by the U.K. Financial Conduct Authority. Circle is extending the ability to hold and pay in U.S. dollars, available in all U.S. states, to Circle account holders in the U.K. British Circle users are now able to hold GBP and make GBP payments instantly, with zero fees. Circle also announced that it’s eliminating transaction and....
Circle Internet Financial set off a wave of positive press last week when it revealed the news that it had become an electronic money institution registered under the Financial Conduct Authority (FCA) in the UK. Though enthusiasm was high, there was confusion over the nature of the licensing and how it enables Circle to further its operations. Of note, is that the e-money license is not digital currency-specific, with the E-Money Directive being introduced in the UK in September 2009. The FCA, sources noted, is still debating how it will seek to regulate digital currencies in the UK.....
Bitcoin blockchain-centric P2P Fintech firm Circle has now added support for bitcoin buying and selling in several European countries beyond the UK. Six months after bitcoin exchange and services firm Circle saw an electronic money license granted by the British government, the company is pushing on to other countries in Europe. Users from sixteen countries including the likes of Belgium, France, Germany, Italy and Spain will now be able to link their Euro-based credit and debit cards. Notably, there are no fees for buying bitcoin with debit cards, making Circle stand out in a growing list....