Januar Secures Full Danish Payment License for Crypto!

Januar Secures Full Danish Payment License for Crypto!

written by John Murphy | April 20, 2023

On 19 April Januar, a Danish startup said that it got the Danish Payment License of Payment Institution from the Financial Supervisory Authority (DFSA) of the country.

According to recent news, former Chainalysis staff established the Danish startup. This startup helps crypto companies find banking services by linking them with IBAN infrastructure.

Due to this, license Januar has permission to conduct business in 30 European Economic Area markets. Whereas under its previous limited permission, it served as a Danish company.

Key Takeaways:

  • Januar, a Danish startup established by former Chainalysis staff, received a Payment Institution license from DFSA, allowing it to operate in 30 European Economic Area markets.
  • Januar helps crypto companies find banking services by linking them with IBAN infrastructure and providing them with an IBAN business account for settlement and payment services.
  • Co-CEO Simon Ousagar believes access to reliable payments infrastructure is lacking in the crypto space, with recent events like the closure of Silvergate and Signature banks making it harder for crypto companies to fund banking services.
  • Januar received $6.5 million in funding from investors like byFounders, Angular Ventures Outward VC, and angel investors.
  • VP Bank, Boerse Stuttgart Digital Subsidiary, and German Dwpbank have expanded their crypto services, including tokenization, custody, and Bitcoin trading platforms.

Mr Legend Crypto made an announcement on Twitter that Januar provides the license for Danish payments. Chainalysis initiate the setup of Danish to provide help to crypto companies. Furthermore, it helps in finding banking services connecting with IBAN.

Moreover, to crypto businesses, Januar provides an International Bank Account number (IBAN) business account. It permits crypto companies to complain about fiat Banking services by linking to the IBAN infrastructure.

These services involve settlement and payments. Otherwise, cryptocurrencies face problems in finding.

Danish Payment License
Source: ffnews

The co-CEO of Januar, Simon Ousagar, stated that in the crypto space, access to reliable payments and reliable payments infrastructure is lacking behind the innovation’s general place.

His move is because of the recent event in a crypto-friendly bank that resulted in the shutting down of the bank. This shutting of the banks is a test of this industry trend.

Alexander Milanovskiy announced on Twitter that a crypto financial provider named Januar received the license for Danish Payments.

Furthermore, Ousager stated that Januar licensing is a big step in the opposite direction. In 2021. A former analysis staff establishes Juanuar. In the next year, Danish’s startup funding will be worth 6b million ($ 6.5 million) in seed money.

With the participation of byFounders and Angular Ventures Outward VC, element ventures lead this funding. Several angel investors also participate in this funding.

However, for crypto companies, funding banking services is more challenging. This move is since a crypto-friendly Silvergate Bank collapsed on 8 March. And closure in the next week by New York regulators on Signature Bank.

TradingBTC announced on Twitter that on 19 April Januar stated that it received a payment institution license from the country’s Financial Supervisory Authority (DFSA).

The Banks of Europe enlarged their crypto services at the same time. In April, VP Bank in Liechtenstein enlarged its tokenization and custody services.

In March, a Boerse Stuttgart Digital Subsidiary got the license to provide custody services. Moreover, German Dwpbank stated that about 1200 banks in the country would open the platform for Bitcoin trading.